Zoom Video Communications, Inc. (NASDAQ:ZM) Holdings Lessened by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 90.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 504,900 shares of the company's stock after selling 5,032,461 shares during the period. Zoom Video Communications makes up 3.3% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 6th largest position. CloudAlpha Capital Management Limited Hong Kong owned 0.17% of Zoom Video Communications worth $36,307,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company's stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares during the period. BlackRock Inc. grew its stake in Zoom Video Communications by 0.8% during the first quarter. BlackRock Inc. now owns 12,837,056 shares of the company's stock valued at $947,888,000 after acquiring an additional 104,955 shares in the last quarter. ARK Investment Management LLC grew its stake in Zoom Video Communications by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company's stock valued at $788,463,000 after acquiring an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Zoom Video Communications by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company's stock valued at $475,469,000 after purchasing an additional 216,768 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Zoom Video Communications by 61.0% during the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company's stock valued at $756,052,000 after purchasing an additional 2,444,294 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ZM shares. Rosenblatt Securities reiterated a "neutral" rating and issued a $75.00 target price on shares of Zoom Video Communications in a research note on Tuesday, March 26th. Wedbush reissued a "neutral" rating and issued a $80.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 27th. Jefferies Financial Group began coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They issued a "hold" rating and a $70.00 target price on the stock. Wells Fargo & Company cut shares of Zoom Video Communications from an "equal weight" rating to an "underweight" rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 20th. Finally, BNP Paribas cut shares of Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 price target on the stock. in a research report on Thursday, January 18th. 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 data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $77.56.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 19,207 shares of the company's stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $67.00, for a total value of $1,286,869.00. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at $132,526. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Aparna Bawa sold 19,207 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $67.00, for a total transaction of $1,286,869.00. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $132,526. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares in the company, valued at approximately $5,896,777.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,456 shares of company stock valued at $5,539,710. Insiders own 11.28% of the company's stock.

Zoom Video Communications Stock Down 0.3 %

NASDAQ ZM traded down $0.20 on Wednesday, reaching $59.08. The company had a trading volume of 2,033,409 shares, compared to its average volume of 3,330,789. The stock's 50 day moving average is $65.02 and its 200-day moving average is $66.07. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of 28.96 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 posted its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.15 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.