Grimes & Company Inc. Sells 3,805 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Grimes & Company Inc. decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,442 shares of the company's stock after selling 3,805 shares during the quarter. Grimes & Company Inc. owned 0.07% of Zoom Video Communications worth $15,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ZM. Wynn Capital LLC increased its holdings in Zoom Video Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock valued at $752,000 after buying an additional 160 shares during the period. Principal Securities Inc. increased its stake in Zoom Video Communications by 26.9% in the fourth quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after acquiring an additional 166 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Zoom Video Communications by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after purchasing an additional 168 shares in the last quarter. Siemens Fonds Invest GmbH lifted its stake in Zoom Video Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after purchasing an additional 174 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Zoom Video Communications by 0.5% during the fourth quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company's stock worth $3,303,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Activity at Zoom Video Communications

In related news, Director Janet Napolitano sold 2,617 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the transaction, the director now owns 4,728 shares in the company, valued at $363,015.84. The trade was a 35.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company'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 transaction, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,671 shares of company stock worth $7,078,546 over the last quarter. 11.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. William Blair reissued an "outperform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. JPMorgan Chase & Co. increased their price objective 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. Piper Sandler boosted their target price on shares of Zoom Video Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $87.00.

Zoom Video Communications Price Performance

ZM stock traded up $0.03 during midday trading on Tuesday, reaching $77.90. The company had a trading volume of 1,630,206 shares, compared to its average volume of 2,934,887. 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 capitalization of $23.57 billion, a P/E ratio of 25.97, a P/E/G ratio of 5.48 and a beta of 0.71. The firm has a 50-day moving average price of $77.86 and a 200-day moving average price of $79.35.

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 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 analysts' expectations of $1.17 billion. During the same period last year, the firm posted $1.35 EPS. Zoom Video Communications's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

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.