Two Sigma Advisers LP Sells 376,900 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Two Sigma Advisers LP reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,071,800 shares of the company's stock after selling 376,900 shares during the quarter. Two Sigma Advisers LP owned approximately 0.35% of Zoom Video Communications worth $87,470,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. boosted its stake in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC boosted its stake 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 in the last quarter. Parkside Financial Bank & Trust boosted its stake in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Zoom Video Communications during the fourth quarter worth $30,000. Finally, Colonial Trust Co SC bought a new position in Zoom Video Communications during the fourth quarter worth $32,000. 66.54% of the stock is owned by institutional investors.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 75,531 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,515 shares of company stock valued at $12,132,994. Corporate insiders own 11.51% of the company's stock.

Zoom Video Communications Price Performance

Shares of ZM traded down $0.20 during trading hours on Thursday, hitting $82.07. The company's stock had a trading volume of 6,369,751 shares, compared to its average volume of 2,993,445. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 5.48 and a beta of 0.79. The business has a 50 day simple moving average of $75.78 and a two-hundred day simple moving average of $79.70. 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 issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. Zoom Video Communications's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.35 earnings per share. Research analysts predict that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ZM. UBS Group lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a report on Thursday. Scotiabank upped their price objective on shares of Zoom Video Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a report on Friday, May 16th. Finally, Benchmark reiterated a "buy" rating and issued a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday. Fifteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications has an average rating of "Hold" and an average price target of $87.61.

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.