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

A number of other hedge funds also recently made changes to their positions in ZM. Swedbank AB boosted its stake in Zoom Video Communications by 96.3% in the 4th quarter. Swedbank AB now owns 82,247 shares of the company's stock valued at $6,712,000 after buying an additional 40,351 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Zoom Video Communications by 8.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock worth $7,868,000 after purchasing an additional 7,518 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth about $288,000. McAdam LLC acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth about $410,000. Finally, Proficio Capital Partners LLC bought a new position in Zoom Video Communications during the 4th quarter valued at about $966,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of research analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. Citigroup dropped their target price on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Rosenblatt Securities upped their target price on shares of Zoom Video Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Benchmark reissued a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, May 20th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Fifteen research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.61.

Zoom Video Communications Stock Up 0.3%

Zoom Video Communications stock traded up $0.27 during mid-day trading on Thursday, hitting $79.94. 1,906,406 shares of the company's stock were exchanged, compared to its average volume of 2,980,140. The company's 50 day simple moving average is $76.19 and its 200-day simple moving average is $79.74. The firm has a market capitalization of $24.40 billion, a P/E ratio of 26.65, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

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

Insider Activity

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the sale, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock worth $12,132,994 over the last quarter. 11.51% of the stock is currently owned by company insiders.

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.