Rhumbline Advisers Sells 10,106 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Rhumbline Advisers cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 303,319 shares of the company's stock after selling 10,106 shares during the period. Rhumbline Advisers owned approximately 0.10% of Zoom Video Communications worth $22,376,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after buying an additional 190 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Zoom Video Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the period. Raiffeisen Bank International AG purchased a new position in Zoom Video Communications during the 4th quarter worth approximately $30,000. Finally, Colonial Trust Co SC acquired a new stake in Zoom Video Communications during the 4th quarter valued at $32,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Stock Down 1.1%

ZM stock traded down $0.85 during midday trading on Tuesday, reaching $79.41. 2,011,113 shares of the company's stock traded hands, compared to its average volume of 2,961,812. The company has a 50-day simple moving average of $77.04 and a two-hundred day simple moving average of $79.60. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 26.47, 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 data on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the company posted $1.35 EPS. The company's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

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 dated Tuesday, June 3rd. The stock was sold at an average price of $80.67, for a total transaction of $199,658.25. Following the sale, the director now owns 155,349 shares of the company's stock, valued at $12,532,003.83. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 41,121 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,459 shares of company stock worth $6,669,338. Insiders own 11.51% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup lowered their price target on Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Bank of America upped their target price on Zoom Video Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, May 22nd. William Blair restated an "outperform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. Finally, Mizuho lowered their price objective on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average 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.