USS Investment Management Ltd Sells 16,413 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

USS Investment Management Ltd lowered its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 25.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,015 shares of the company's stock after selling 16,413 shares during the quarter. USS Investment Management Ltd's holdings in Zoom Video Communications were worth $3,836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ZM. Vident Advisory LLC purchased a new position in Zoom Video Communications in the 4th quarter worth about $365,000. Sphera Management Technology Funds Ltd purchased a new stake in shares of Zoom Video Communications during the fourth quarter valued at $816,000. Tidal Investments LLC boosted its holdings in shares of Zoom Video Communications by 0.9% in the 4th quarter. Tidal Investments LLC now owns 37,119 shares of the company's stock valued at $3,029,000 after acquiring an additional 319 shares during the last quarter. State of Wyoming grew its position in Zoom Video Communications by 286.9% during the 4th quarter. State of Wyoming now owns 7,561 shares of the company's stock worth $617,000 after purchasing an additional 5,607 shares during the period. Finally, Strategic Global Advisors LLC raised its position in Zoom Video Communications by 5.8% during the fourth quarter. Strategic Global Advisors LLC now owns 24,118 shares of the company's stock valued at $1,968,000 after acquiring an additional 1,322 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the 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 transaction, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Performance

NASDAQ ZM traded up $0.77 during trading hours on Wednesday, reaching $79.67. 2,479,271 shares of the company's stock were exchanged, compared to its average volume of 2,981,959. The company has a market capitalization of $24.32 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company's 50-day moving average is $76.12 and its two-hundred day moving average is $79.74.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced 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. The company 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%. Zoom Video Communications's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.35 EPS. Research analysts predict that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Zoom Video Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Wall Street Zen raised Zoom Video Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Wells Fargo & Company boosted their target price on Zoom Video Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Morgan Stanley upped their target price on shares of Zoom Video Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, William Blair restated an "outperform" rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $87.61.

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.