Janus Henderson Group PLC Cuts Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Janus Henderson Group PLC lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,787 shares of the company's stock after selling 3,100 shares during the quarter. Janus Henderson Group PLC's holdings in Zoom Video Communications were worth $1,696,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Zoom Video Communications in the fourth quarter worth about $751,908,000. Altshuler Shaham Ltd grew its position in shares of Zoom Video Communications by 285.9% during the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock worth $167,813,000 after purchasing an additional 1,523,480 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth about $99,471,000. Finally, Contrarius Group Holdings Ltd purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth about $72,854,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Video Communications Trading Down 3.4%

Shares of ZM stock traded down $2.79 on Friday, reaching $79.28. 4,178,449 shares of the company's stock were exchanged, compared to its average volume of 2,980,770. The company's fifty day simple moving average is $76.00 and its 200 day simple moving average is $79.76. The stock has a market capitalization of $24.20 billion, a PE ratio of 26.43, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (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 business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $1.35 EPS. The business's revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, 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 transaction of $5,663,314.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The stock was 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 directly owns 1,978 shares of the company's stock, valued at approximately $143,583.02. This represents a 89.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock valued at $12,132,994 in the last quarter. 11.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. William Blair reiterated an "outperform" rating on shares of Zoom Video Communications in a research report on Thursday. Morgan Stanley increased their target price on Zoom Video Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wells Fargo & Company increased their price target on Zoom Video Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday. Rosenblatt Securities increased their price target on Zoom Video Communications from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a research note on Thursday. Fifteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Zoom Video Communications has a consensus rating of "Moderate Buy" and an average price target of $87.61.

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.