Avanza Fonder AB Sells 6,800 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Avanza Fonder AB lessened its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 35.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,350 shares of the company's stock after selling 6,800 shares during the quarter. Avanza Fonder AB's holdings in Zoom Video Communications were worth $927,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after acquiring an additional 258 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at $30,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Zoom Video Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after purchasing an additional 246 shares during the period. Colonial Trust Co SC purchased a new stake in Zoom Video Communications during the 4th quarter worth about $32,000. Finally, MRP Capital Investments LLC boosted its stake in Zoom Video Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.72 during trading on Monday, hitting $77.35. 929,300 shares of the company's stock traded hands, compared to its average volume of 2,937,337. The stock has a fifty day moving average of $77.64 and a two-hundred day moving average of $79.38. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market cap of $23.40 billion, a P/E ratio of 25.78, a PEG ratio of 5.48 and a beta of 0.71.

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

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at $143,583.02. The trade was a 89.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction on Monday, April 14th. The stock was 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. Insiders sold 96,671 shares of company stock valued at $7,078,546 in the last quarter. Company insiders own 11.51% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZM. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. UBS Group decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Scotiabank increased their target price on shares of Zoom Video Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Friday, May 16th. Barclays reduced their price target on shares of 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. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Zoom Video Communications currently has an average rating of "Hold" and a consensus target price of $87.00.

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.