Zoom Video Communications, Inc. (NASDAQ:ZM) Position Cut by Mutual Advisors LLC

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Mutual Advisors LLC trimmed its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,034 shares of the company’s stock after selling 292 shares during the quarter. Mutual Advisors LLC’s holdings in Zoom Video Communications were worth $686,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio lifted its stake in Zoom Video Communications by 86.8% in the fourth quarter. Strs Ohio now owns 84,428 shares of the company’s stock valued at $28,479,000 after buying an additional 39,225 shares during the last quarter. Maryland State Retirement & Pension System bought a new stake in Zoom Video Communications in the fourth quarter valued at $1,056,000. Ballew Advisors Inc lifted its stake in Zoom Video Communications by 58.0% in the fourth quarter. Ballew Advisors Inc now owns 697 shares of the company’s stock valued at $235,000 after buying an additional 256 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Zoom Video Communications by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 28,888 shares of the company’s stock valued at $9,744,000 after buying an additional 531 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in Zoom Video Communications by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 6,605,021 shares of the company’s stock valued at $2,228,006,000 after buying an additional 308,957 shares during the last quarter. Institutional investors own 37.97% of the company’s stock.

A number of equities research analysts have issued reports on the company. Rosenblatt Securities raised their target price on Zoom Video Communications from $350.00 to $400.00 and gave the company a “neutral” rating in a research note on Monday, March 8th. Credit Suisse Group lifted their price objective on shares of Zoom Video Communications from $315.00 to $340.00 and gave the company an “underperform” rating in a research note on Tuesday, December 1st. Piper Sandler upgraded shares of Zoom Video Communications from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $501.00 to $541.00 in a research note on Monday, March 8th. Stifel Nicolaus lifted their price objective on shares of Zoom Video Communications from $400.00 to $450.00 and gave the company a “hold” rating in a research note on Tuesday, December 1st. They noted that the move was a valuation call. Finally, Wells Fargo & Company cut their price objective on shares of Zoom Video Communications from $465.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $433.50.

Shares of ZM opened at $346.39 on Friday. The business’s 50-day moving average price is $388.51 and its 200 day moving average price is $415.34. The stock has a market capitalization of $99.07 billion, a P/E ratio of 444.09, a P/E/G ratio of 12.42 and a beta of -1.46. Zoom Video Communications, Inc. has a 1-year low of $102.00 and a 1-year high of $588.84.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Sunday, February 28th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.43. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The firm had revenue of $882.49 million for the quarter, compared to analysts’ expectations of $810.97 million. During the same quarter last year, the business posted $0.15 EPS. Zoom Video Communications’s revenue was up 368.8% on a year-over-year basis. Equities analysts anticipate that Zoom Video Communications, Inc. will post 1.83 EPS for the current year.

In other Zoom Video Communications news, CEO Eric S. Yuan sold 70,142 shares of Zoom Video Communications stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $401.87, for a total transaction of $28,187,965.54. Following the transaction, the chief executive officer now owns 177,285 shares of the company’s stock, valued at approximately $71,245,522.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 80,529 shares of Zoom Video Communications stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $347.97, for a total value of $28,021,676.13. Following the transaction, the chief executive officer now directly owns 11,545 shares in the company, valued at approximately $4,017,313.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 485,564 shares of company stock worth $177,002,273. Company insiders own 24.25% of the company’s stock.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company’s product portfolio includes 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables sharing messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

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