Zurcher Kantonalbank Zurich Cantonalbank Sells 103,593 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 55.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,410 shares of the company's stock after selling 103,593 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Zoom Video Communications were worth $5,998,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. raised its holdings in Zoom Video Communications by 3.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,528 shares of the company's stock worth $457,000 after purchasing an additional 200 shares in the last quarter. Amalgamated Bank raised its holdings in Zoom Video Communications by 0.8% during the third quarter. Amalgamated Bank now owns 24,850 shares of the company's stock worth $1,738,000 after purchasing an additional 205 shares in the last quarter. Excalibur Management Corp increased its stake in Zoom Video Communications by 6.8% in the 3rd quarter. Excalibur Management Corp now owns 4,083 shares of the company's stock valued at $286,000 after buying an additional 259 shares during the period. Allworth Financial LP increased its stake in Zoom Video Communications by 101.4% in the 3rd quarter. Allworth Financial LP now owns 560 shares of the company's stock valued at $39,000 after buying an additional 282 shares during the period. Finally, Cyndeo Wealth Partners LLC increased its stake in Zoom Video Communications by 7.0% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 4,537 shares of the company's stock valued at $326,000 after buying an additional 296 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Eric S. Yuan sold 2,421 shares of Zoom Video Communications stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $63.69, for a total transaction of $154,193.49. Following the transaction, the chief executive officer now directly owns 90,001 shares of the company's stock, valued at $5,732,163.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Eric S. Yuan sold 2,421 shares of Zoom Video Communications stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $63.69, for a total transaction of $154,193.49. Following the transaction, the chief executive officer now directly owns 90,001 shares of the company's stock, valued at $5,732,163.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm's stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,256 shares of company stock valued at $4,550,057. Company insiders own 11.28% of the company's stock.

Zoom Video Communications Stock Performance

ZM traded up $0.09 on Monday, reaching $59.54. 2,904,695 shares of the company's stock were exchanged, compared to its average volume of 3,326,622. The company has a market cap of $18.31 billion, a price-to-earnings ratio of 29.41 and a beta of -0.07. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90. The company's 50 day moving average is $64.82 and its 200-day moving average is $65.94.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released 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. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Wall Street Analyst Weigh In

ZM has been the topic of several recent research reports. BNP Paribas cut shares of Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 price objective on the stock. in a research note on Thursday, January 18th. JPMorgan Chase & Co. decreased their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 27th. Piper Sandler boosted their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a "neutral" rating in a research report on Friday, January 12th. Rosenblatt Securities upgraded shares of Zoom Video Communications from a "neutral" rating to a "buy" rating and set a $75.00 price objective on the stock in a research report on Thursday. Finally, Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They issued a "hold" rating and a $70.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $77.56.

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.