Royal Bank of Canada Sells 62,292 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Royal Bank of Canada lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 407,303 shares of the company's stock after selling 62,292 shares during the period. Royal Bank of Canada owned approximately 0.13% of Zoom Video Communications worth $33,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ZM. Swedbank AB raised its holdings in Zoom Video Communications by 96.3% in the 4th quarter. Swedbank AB now owns 82,247 shares of the company's stock valued at $6,712,000 after buying an additional 40,351 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Zoom Video Communications by 8.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock worth $7,868,000 after buying an additional 7,518 shares during the period. Silver Lake Advisory LLC increased its stake in shares of Zoom Video Communications by 13.3% in the fourth quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company's stock valued at $3,291,000 after buying an additional 4,745 shares during the period. Caprock Group LLC bought a new position in shares of Zoom Video Communications during the fourth quarter worth about $288,000. Finally, McAdam LLC acquired a new position in shares of Zoom Video Communications in the fourth quarter worth approximately $410,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now owns 125,529 shares of the company's stock, 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 have sold 164,515 shares of company stock valued at $12,132,994 over the last three months. 11.51% of the stock is owned by corporate insiders.

Zoom Video Communications Trading Up 1.3%

Shares of Zoom Video Communications stock traded up $1.02 on Wednesday, reaching $79.92. The stock had a trading volume of 473,027 shares, compared to its average volume of 2,974,255. The business's 50 day moving average is $76.12 and its two-hundred day moving average is $79.74. 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 $24.40 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.35 EPS. On average, equities analysts anticipate that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analysts Set New Price Targets

ZM has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Barclays lowered their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC raised Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price for the company in a research note on Thursday, May 22nd. Royal Bank of Canada restated an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. lifted 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. Fifteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of "Moderate Buy" and a consensus 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.