Public Employees Retirement System of Ohio Sells 5,146 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Public Employees Retirement System of Ohio lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,769 shares of the company's stock after selling 5,146 shares during the period. Public Employees Retirement System of Ohio's holdings in Zoom Video Communications were worth $7,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its position in 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 acquiring an additional 265 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $39,000. Forsta AP Fonden increased its stake in Zoom Video Communications by 1.9% during the 4th quarter. Forsta AP Fonden now owns 49,400 shares of the company's stock worth $4,032,000 after buying an additional 900 shares during the period. Swedbank AB increased its stake in Zoom Video Communications by 96.3% during the 4th quarter. Swedbank AB now owns 82,247 shares of the company's stock worth $6,712,000 after buying an additional 40,351 shares during the period. Finally, Mediolanum International Funds Ltd grew its holdings in Zoom Video Communications by 16.1% during the 4th quarter. Mediolanum International Funds Ltd now owns 210,063 shares of the company's stock worth $17,336,000 after acquiring an additional 29,206 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the transaction, the director now owns 169,452 shares in the company, valued at $13,193,532.72. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,515 shares of company stock worth $12,132,994. Company insiders own 11.51% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Rosenblatt Securities upped their target price on shares of Zoom Video Communications from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. William Blair restated an "outperform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Barclays cut 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 report on Wednesday, February 26th. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Fifteen analysts have rated the stock with 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, Zoom Video Communications presently has a consensus rating of "Moderate Buy" and an average target price of $87.61.

Zoom Video Communications Trading Up 0.5%

ZM stock traded up $0.38 during trading on Friday, hitting $80.32. The company had a trading volume of 5,485,271 shares, compared to its average volume of 2,982,446. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market capitalization of $24.52 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 5.48 and a beta of 0.79. The business has a 50 day moving average of $76.27 and a 200 day moving average of $79.60.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.35 EPS. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

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.