Rhumbline Advisers Has $22.38 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Rhumbline Advisers trimmed its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing 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 about 0.10% of Zoom Video Communications worth $22,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Caprock Group LLC acquired a new stake in Zoom Video Communications during the fourth quarter worth $288,000. Stratos Wealth Advisors LLC acquired a new position in Zoom Video Communications during the fourth quarter worth $1,161,000. Choreo LLC acquired a new position in Zoom Video Communications during the fourth quarter worth $308,000. Strategic Financial Concepts LLC acquired a new position in Zoom Video Communications during the fourth quarter worth $831,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Zoom Video Communications by 10.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,829 shares of the company's stock valued at $2,190,000 after purchasing an additional 2,523 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZM has been the topic of several recent analyst reports. William Blair restated an "outperform" rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Mizuho reduced their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC raised Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price on the stock in a report on Thursday, May 22nd. Wall Street Zen downgraded Zoom Video Communications from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $87.00.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the transaction, the insider now owns 125,529 shares of the company's stock, valued at $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,459 shares of company stock valued at $6,669,338 in the last quarter. Insiders own 11.51% of the company's stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $80.35 on Friday. The firm's 50-day simple moving average is $76.82 and its 200 day simple moving average is $79.65. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a market cap of $24.53 billion, a P/E ratio of 26.78, 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 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The company's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.35 earnings per share. As a group, equities analysts forecast that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

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.

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