Mirae Asset Global Investments Co. Ltd. Decreases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 26.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 402,244 shares of the company's stock after selling 145,041 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.13% of Zoom Video Communications worth $28,925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ZM. Pearl River Capital LLC lifted its position in Zoom Video Communications by 31.6% during the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company's stock valued at $2,601,000 after purchasing an additional 8,928 shares during the period. California Public Employees Retirement System lifted its position in Zoom Video Communications by 3.4% during the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company's stock valued at $32,231,000 after purchasing an additional 14,945 shares during the period. CIBC Asset Management Inc increased its holdings in Zoom Video Communications by 15.9% in the third quarter. CIBC Asset Management Inc now owns 42,353 shares of the company's stock valued at $2,962,000 after buying an additional 5,826 shares in the last quarter. Vanguard Group Inc. increased its holdings in Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company's stock valued at $1,587,326,000 after buying an additional 1,000,005 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC increased its holdings in Zoom Video Communications by 25.4% in the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company's stock valued at $23,590,000 after buying an additional 66,433 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on ZM. Mizuho cut their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, February 27th. Jefferies Financial Group began coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They set a "hold" rating and a $70.00 target price for the company. Wedbush reissued a "neutral" rating and set a $80.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 27th. JPMorgan Chase & Co. cut their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, February 27th. Finally, Piper Sandler boosted their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday, January 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $77.56.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the sale, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the sale, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Shane Crehan sold 4,480 shares of the business's stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $68.34, for a total transaction of $306,163.20. The disclosure for this sale can be found here. In the last three months, insiders sold 68,694 shares of company stock worth $4,614,159. 11.28% of the stock is owned by corporate insiders.

Zoom Video Communications Trading Up 1.3 %

Shares of NASDAQ ZM traded up $0.84 during mid-day trading on Tuesday, reaching $63.85. The company had a trading volume of 3,282,124 shares, compared to its average volume of 3,396,262. The firm has a 50 day simple moving average of $65.49 and a two-hundred day simple moving average of $66.41. The stock has a market cap of $19.64 billion, a P/E ratio of 30.83 and a beta of -0.07. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. On average, equities analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS 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.