Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Position Lowered by Truvestments Capital LLC

Truvestments Capital LLC trimmed its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 51.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,032 shares of the company’s stock after selling 2,122 shares during the period. Truvestments Capital LLC’s holdings in Zoom Video Communications were worth $133,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. KBC Group NV grew its position in Zoom Video Communications by 134.3% during the fourth quarter. KBC Group NV now owns 561,558 shares of the company’s stock valued at $40,382,000 after purchasing an additional 321,921 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after acquiring an additional 721,923 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Zoom Video Communications by 556.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company’s stock worth $8,923,000 after acquiring an additional 105,173 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Zoom Video Communications by 353.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 32,017 shares of the company’s stock worth $2,302,000 after acquiring an additional 24,953 shares in the last quarter. Finally, Ossiam boosted its position in Zoom Video Communications by 1,917.4% during the fourth quarter. Ossiam now owns 231,474 shares of the company’s stock valued at $16,645,000 after purchasing an additional 220,000 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $58.64, for a total value of $293,610.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 10,332 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $56.81, for a total transaction of $586,960.92. Following the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $112,370.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $58.64, for a total value of $293,610.48. The disclosure for this sale can be found here. Insiders sold a total of 123,636 shares of company stock valued at $7,242,839 in the last quarter. Corporate insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ZM shares. Stifel Nicolaus dropped their target price on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, May 21st. Sanford C. Bernstein cut their price objective on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 21st. Morgan Stanley decreased their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Piper Sandler cut their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Robert W. Baird decreased their price objective on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.22.

Zoom Video Communications Price Performance

ZM stock traded up $0.48 on Friday, reaching $60.09. 1,906,443 shares of the company were exchanged, compared to its average volume of 2,551,115. The firm has a market capitalization of $18.58 billion, a PE ratio of 22.42, a PEG ratio of 9.22 and a beta of -0.05. Zoom Video Communications, Inc. has a 12 month low of $55.63 and a 12 month high of $75.90. The stock’s fifty day moving average price is $59.70 and its 200 day moving average price is $63.04.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.23. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. As a group, research analysts expect that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

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.