Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 387,108 shares of the company's stock after buying an additional 16,328 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Zoom Video Communications worth $31,592,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $30,000. Finally, Colonial Trust Co SC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Stock Up 0.5%

Shares of NASDAQ ZM traded up $0.38 during mid-day trading on Friday, hitting $80.32. 5,485,271 shares of the company were exchanged, compared to its average volume of 2,988,472. The stock has a 50 day simple moving average of $76.27 and a 200-day simple moving average of $79.66. 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 $24.52 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $1.35 earnings per share. Zoom Video Communications's quarterly revenue was up 2.9% compared to the same quarter last year. Analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ZM shares. Mizuho cut their target price on shares of 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. Stifel Nicolaus cut their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. William Blair restated an "outperform" rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. UBS Group cut 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 research note on Tuesday, February 25th. Finally, Bank of America increased their price target on shares of Zoom Video Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Fifteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications currently has an average rating of "Moderate Buy" and a consensus target price of $87.61.

Insider Buying and Selling at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the transaction, the director now owns 157,824 shares in the company, valued at $12,439,687.68. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is owned by company insiders.

Zoom Video Communications Company 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.