New York State Common Retirement Fund Sells 19,490 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

New York State Common Retirement Fund trimmed its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,379 shares of the company's stock after selling 19,490 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Zoom Video Communications worth $13,906,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ZM. AE Wealth Management LLC acquired a new position in shares of Zoom Video Communications during the third quarter worth about $219,000. Asset Management One Co. Ltd. grew its position in Zoom Video Communications by 1.5% during the third quarter. Asset Management One Co. Ltd. now owns 92,755 shares of the company's stock worth $6,487,000 after buying an additional 1,350 shares during the period. Handelsbanken Fonder AB grew its position in Zoom Video Communications by 7.0% during the third quarter. Handelsbanken Fonder AB now owns 40,354 shares of the company's stock worth $2,822,000 after buying an additional 2,647 shares during the period. Simplicity Solutions LLC acquired a new position in Zoom Video Communications during the third quarter worth about $226,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Zoom Video Communications by 16.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 55,900 shares of the company's stock worth $3,910,000 after buying an additional 8,000 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 21,968 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at $119,036.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Aparna Bawa sold 21,968 shares of the firm's stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $60.18, for a total value of $1,322,034.24. Following the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at approximately $119,036.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 1,553 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The disclosure for this sale can be found here. Insiders have sold a total of 93,224 shares of company stock valued at $5,872,091 over the last quarter. Company insiders own 11.28% of the company's stock.

Zoom Video Communications Stock Down 3.5 %

Shares of ZM traded down $2.22 on Tuesday, hitting $61.10. 2,543,921 shares of the stock traded hands, compared to its average volume of 3,303,075. The firm has a market capitalization of $18.79 billion, a P/E ratio of 31.04 and a beta of -0.07. The stock's 50 day moving average is $64.59 and its two-hundred day moving average is $65.78. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $75.90.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.34. The business had revenue of $1.15 billion for 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%. Research analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ZM shares. Piper Sandler upped 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 report on Friday, January 12th. JPMorgan Chase & Co. lowered 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. BNP Paribas lowered shares of Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 target price on the stock. in a research report on Thursday, January 18th. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a "hold" rating and a $70.00 target price on the stock. Finally, Rosenblatt Securities upgraded shares of Zoom Video Communications from a "neutral" rating to a "buy" rating and set a $75.00 price target on the stock in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus target price of $77.56.

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.