Swiss National Bank Sells 21,700 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Swiss National Bank trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 745,300 shares of the company's stock after selling 21,700 shares during the quarter. Swiss National Bank owned approximately 0.24% of Zoom Video Communications worth $53,595,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ZM. Avory & Company LLC boosted its holdings in Zoom Video Communications by 4.4% in the fourth quarter. Avory & Company LLC now owns 236,831 shares of the company's stock valued at $17,031,000 after purchasing an additional 9,940 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $787,000. Van ECK Associates Corp boosted its holdings in shares of Zoom Video Communications by 373.7% in the 4th quarter. Van ECK Associates Corp now owns 28,567 shares of the company's stock valued at $2,054,000 after buying an additional 22,537 shares in the last quarter. Intellectus Partners LLC grew its position in shares of Zoom Video Communications by 18.3% in the 4th quarter. Intellectus Partners LLC now owns 11,574 shares of the company's stock valued at $832,000 after buying an additional 1,790 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Zoom Video Communications by 9.3% during the 4th quarter. Russell Investments Group Ltd. now owns 270,245 shares of the company's stock worth $19,677,000 after acquiring an additional 22,897 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ZM shares. Jefferies Financial Group began coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a "hold" rating and a $70.00 price objective for the company. Wedbush restated a "neutral" rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Rosenblatt Securities raised shares of Zoom Video Communications from a "neutral" rating to a "buy" rating and set a $75.00 target price for the company in a report on Thursday, April 18th. Mizuho lowered their price target on Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th. Finally, Piper Sandler boosted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the company a "neutral" rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $77.56.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 816 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company's stock, valued at $131,734.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 816 shares of the business's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,734.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $69.84, for a total transaction of $169,012.80. Following the completion of the sale, the chief executive officer now directly owns 85,160 shares of the company's stock, valued at approximately $5,947,574.40. The disclosure for this sale can be found here. Insiders sold 95,810 shares of company stock valued at $6,025,427 in the last ninety days. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Up 0.5 %

Shares of NASDAQ:ZM traded up $0.32 during trading on Tuesday, reaching $62.14. The stock had a trading volume of 2,261,409 shares, compared to its average volume of 3,266,597. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The business has a fifty day moving average price of $64.43 and a 200-day moving average price of $65.74. The stock has a market cap of $19.11 billion, a P/E ratio of 30.46 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.13 billion. As a group, equities analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS 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.