Los Angeles Capital Management LLC Cuts Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Los Angeles Capital Management LLC cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 57.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,340 shares of the company’s stock after selling 166,254 shares during the period. Los Angeles Capital Management LLC’s holdings in Zoom Video Communications were worth $14,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ZM. Fisher Asset Management LLC purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $418,128,000. Nikko Asset Management Americas Inc. lifted its holdings in Zoom Video Communications by 55.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,668,279 shares of the company’s stock valued at $675,037,000 after acquiring an additional 1,312,035 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Zoom Video Communications by 22.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,242,357 shares of the company’s stock valued at $614,562,000 after acquiring an additional 973,841 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Zoom Video Communications by 24.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,005,012 shares of the company’s stock valued at $736,562,000 after acquiring an additional 789,132 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Zoom Video Communications by 243.8% in the fourth quarter. Bank of Montreal Can now owns 1,106,665 shares of the company’s stock valued at $211,662,000 after acquiring an additional 784,735 shares during the last quarter. 55.94% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Up 0.9 %

Shares of ZM opened at $113.85 on Friday. The stock has a 50 day moving average price of $109.90 and a 200 day moving average price of $114.41. The company has a market capitalization of $33.97 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 4.63 and a beta of -0.61. Zoom Video Communications, Inc. has a 52-week low of $79.03 and a 52-week high of $395.00.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings data on Monday, May 23rd. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12. Zoom Video Communications had a return on equity of 16.56% and a net margin of 29.91%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Zoom Video Communications, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ZM shares. Barclays decreased their price objective on Zoom Video Communications from $150.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on Zoom Video Communications from $155.00 to $105.00 in a report on Tuesday, May 24th. BTIG Research decreased their price objective on Zoom Video Communications from $180.00 to $150.00 in a report on Friday, May 13th. Sanford C. Bernstein began coverage on Zoom Video Communications in a research note on Tuesday, July 19th. They set a “market perform” rating and a $122.00 price target on the stock. Finally, Stifel Nicolaus dropped their price objective on Zoom Video Communications from $150.00 to $120.00 in a research note on Tuesday, May 24th. Fourteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.62.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,319 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $109.79, for a total value of $254,603.01. Following the completion of the transaction, the insider now owns 10,863 shares in the company, valued at $1,192,648.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Aparna Bawa sold 2,404 shares of Zoom Video Communications stock in a transaction on Friday, May 13th. The stock was sold at an average price of $95.04, for a total transaction of $228,476.16. Following the completion of the transaction, the chief operating officer now owns 84,260 shares of the company’s stock, valued at approximately $8,008,070.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 2,319 shares of the stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $109.79, for a total transaction of $254,603.01. Following the completion of the sale, the insider now directly owns 10,863 shares in the company, valued at $1,192,648.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,923 shares of company stock worth $5,803,973. 11.24% of the stock is owned by corporate insiders.

Zoom Video Communications Company Profile

(Get Rating)

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.