Zoom Video Communications, Inc. (NASDAQ:ZM) Position Cut by Empowered Funds LLC

Empowered Funds LLC lowered its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 8.4% during the 3rd quarter, Holdings Channel reports. The fund owned 116,218 shares of the company’s stock after selling 10,718 shares during the period. Empowered Funds LLC’s holdings in Zoom Video Communications were worth $8,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ZM. Baker Avenue Asset Management LP lifted its position in shares of Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after acquiring an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at $763,000. Robeco Institutional Asset Management B.V. increased its stake in Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after purchasing an additional 167,618 shares in the last quarter. National Pension Service raised its holdings in Zoom Video Communications by 30.1% during the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after buying an additional 151,728 shares during the period. Finally, Easterly Investment Partners LLC lifted its stake in Zoom Video Communications by 11.2% during the third quarter. Easterly Investment Partners LLC now owns 109,679 shares of the company’s stock valued at $7,649,000 after buying an additional 11,043 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. UBS Group upgraded Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday, October 10th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th. Finally, Robert W. Baird cut their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.26.

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 880 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the completion of the sale, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 372,121 shares of company stock valued at $27,095,467. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Trading Down 1.8 %

NASDAQ ZM opened at $81.14 on Friday. The firm’s 50 day simple moving average is $72.07 and its 200 day simple moving average is $64.84. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $87.15. The firm has a market capitalization of $24.97 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 7.12 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Zoom Video Communications 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.