Federated Hermes Inc. Sells 77,804 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Federated Hermes Inc. decreased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 572,874 shares of the company's stock after selling 77,804 shares during the period. Federated Hermes Inc. owned about 0.19% of Zoom Video Communications worth $41,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AlphaCrest Capital Management LLC increased its position in Zoom Video Communications by 17.4% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,150 shares of the company's stock valued at $369,000 after acquiring an additional 466 shares during the period. MetLife Investment Management LLC acquired a new position in Zoom Video Communications in the 1st quarter valued at approximately $1,652,000. Panagora Asset Management Inc. increased its position in Zoom Video Communications by 45.5% in the 1st quarter. Panagora Asset Management Inc. now owns 10,985 shares of the company's stock valued at $1,288,000 after acquiring an additional 3,434 shares during the period. Cibc World Market Inc. increased its position in Zoom Video Communications by 11.3% in the 1st quarter. Cibc World Market Inc. now owns 4,364 shares of the company's stock valued at $512,000 after acquiring an additional 442 shares during the period. Finally, Prudential PLC acquired a new position in Zoom Video Communications in the 1st quarter valued at approximately $263,000. Institutional investors own 66.54% of the company's stock.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,931 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 $135,170.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total transaction of $297,215.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,931 shares of Zoom Video Communications 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 $135,170.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,256 shares of company stock valued at $4,550,057. Corporate insiders own 11.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ZM shares. Wedbush restated a "neutral" rating and issued a $80.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Piper Sandler upped their price target on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a "neutral" rating in a research report on Friday, January 12th. BNP Paribas cut shares of Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 price objective for the company. in a research report on Thursday, January 18th. Rosenblatt Securities upgraded shares of Zoom Video Communications from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Thursday. Finally, Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a "hold" rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $77.56.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded down $0.49 during trading hours on Friday, reaching $59.45. The company's stock had a trading volume of 2,542,305 shares, compared to its average volume of 2,492,466. The company has a market capitalization of $18.28 billion, a P/E ratio of 29.14 and a beta of -0.07. The stock's fifty day simple moving average is $64.82 and its two-hundred day simple moving average is $65.94. Zoom Video Communications, Inc. has a one year low of $58.87 and a one year 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 for the quarter, topping the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

About Zoom Video Communications

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.