Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,047,841 shares of the company's stock after selling 203,461 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.34% of Zoom Video Communications worth $77,299,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its position in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares during the period. Raiffeisen Bank International AG purchased a new position in Zoom Video Communications during the fourth quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB grew its stake in Zoom Video Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. Colonial Trust Co SC bought a new stake in Zoom Video Communications during the fourth quarter valued at approximately $32,000. Finally, MRP Capital Investments LLC raised its holdings in Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded down $0.78 during trading on Friday, reaching $76.63. 2,266,932 shares of the stock were exchanged, compared to its average volume of 2,945,215. The stock has a fifty day moving average of $77.64 and a two-hundred day moving average of $79.43. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market cap of $23.18 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The company's revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.35 EPS. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares in the company, valued at $13,193,532.72. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the transaction, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. This trade represents a 8.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,671 shares of company stock valued at $7,078,546. Company insiders own 11.51% of the company's stock.

Wall Street Analyst Weigh In

ZM has been the subject of several analyst reports. Stifel Nicolaus reduced their target price 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. Morgan Stanley boosted their price target on Zoom Video Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. William Blair reaffirmed an "outperform" rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Benchmark reissued a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, May 20th. Finally, Mizuho lowered their target price on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $87.00.

About Zoom Video Communications

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.