Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 25.9% in the first quarter, HoldingsChannel.com reports. The fund owned 4,900,288 shares of the company’s stock after selling 1,711,720 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Zoom Video Communications were worth $320,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Mariner LLC raised its position in shares of Zoom Video Communications by 90.3% during the 3rd quarter. Mariner LLC now owns 18,134 shares of the company’s stock worth $1,268,000 after purchasing an additional 8,603 shares during the last quarter. Stifel Financial Corp increased its position in Zoom Video Communications by 5.4% during the third quarter. Stifel Financial Corp now owns 26,080 shares of the company’s stock worth $1,824,000 after buying an additional 1,340 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Zoom Video Communications in the third quarter worth $294,000. Gotham Asset Management LLC lifted its position in shares of Zoom Video Communications by 0.9% in the third quarter. Gotham Asset Management LLC now owns 47,454 shares of the company’s stock valued at $3,319,000 after acquiring an additional 417 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of Zoom Video Communications by 244.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 32,545 shares of the company’s stock worth $2,276,000 after purchasing an additional 23,087 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $57.59, for a total transaction of $288,353.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total transaction of $288,353.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 874 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $61.78, for a total transaction of $53,995.72. Following the completion of the transaction, the chief operating officer now owns 2,814 shares in the company, valued at $173,848.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,093 shares of company stock valued at $6,326,899. Insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

ZM has been the topic of a number of recent analyst reports. Sanford C. Bernstein reduced their price target on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 21st. Morgan Stanley decreased their price target on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Stifel Nicolaus cut their price objective on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group began 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 target for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.44.

Zoom Video Communications Stock Performance

Shares of ZM stock traded up $0.13 during trading hours on Wednesday, reaching $58.47. The company had a trading volume of 251,491 shares, compared to its average volume of 3,320,115. The stock’s fifty day simple moving average is $61.20 and its 200 day simple moving average is $64.64. The company has a market capitalization of $18.08 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 9.09 and a beta of -0.05. Zoom Video Communications, Inc. has a twelve month low of $55.63 and a twelve month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, May 20th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.43 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.