Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Alhambra Investment Management LLC

Alhambra Investment Management LLC reduced its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 36.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,008 shares of the company's stock after selling 3,451 shares during the period. Alhambra Investment Management LLC's holdings in Zoom Video Communications were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZM. Norges Bank acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth $751,908,000. Altshuler Shaham Ltd grew its holdings in shares of Zoom Video Communications by 285.9% in the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock valued at $167,813,000 after purchasing an additional 1,523,480 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Zoom Video Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Zoom Video Communications during the fourth quarter worth about $99,471,000. Finally, Contrarius Group Holdings Ltd purchased a new position in Zoom Video Communications during the fourth quarter worth about $72,854,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Barclays lowered their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Rosenblatt Securities lifted their target price on Zoom Video Communications from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Bank of America increased their price target on Zoom Video Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Citigroup cut their price objective on Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Video Communications Trading Down 0.7%

Shares of NASDAQ:ZM traded down $0.53 during midday trading on Thursday, hitting $77.63. The stock had a trading volume of 698,105 shares, compared to its average volume of 2,498,647. The stock has a 50 day moving average price of $77.25 and a two-hundred day moving average price of $79.59. The company has a market capitalization of $23.49 billion, a PE ratio of 25.88, a P/E/G ratio of 5.48 and a beta of 0.71. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.35 earnings per share. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $80.67, for a total transaction of $199,658.25. Following the completion of the sale, the director now owns 155,349 shares in the company, valued at approximately $12,532,003.83. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $72.18, for a total transaction of $2,968,113.78. The disclosure for this sale can be found here. In the last three months, insiders sold 94,054 shares of company stock worth $6,877,613. 11.51% of the stock is owned by corporate insiders.

Zoom Video Communications Profile

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.