Federated Hermes Inc. Trims Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Federated Hermes Inc. cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 572,874 shares of the company’s stock after selling 77,804 shares during the period. Federated Hermes Inc.’s holdings in Zoom Video Communications were worth $41,195,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Neo Ivy Capital Management boosted its holdings in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the period. Covestor Ltd increased its stake in Zoom Video Communications by 76.7% in the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock worth $46,000 after buying an additional 171 shares in the last quarter. AM Squared Ltd bought a new stake in Zoom Video Communications during the third quarter valued at about $28,000. Finally, Money Concepts Capital Corp lifted its position in shares of Zoom Video Communications by 821.2% in the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after acquiring an additional 427 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $59.45 on Friday. The business’s 50 day moving average price is $64.82 and its 200-day moving average price is $65.95. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The company has a market cap of $18.28 billion, a P/E ratio of 29.14 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on ZM shares. Piper Sandler increased their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Jefferies Financial Group initiated coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Mizuho reduced their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.56.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the sale, the chief executive officer now owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Eric S. Yuan sold 27,963 shares of Zoom Video Communications stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the completion of the sale, the chief executive officer now directly owns 95,140 shares in the company, valued at $5,896,777.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the transaction, the insider now owns 71,956 shares in the company, valued at $5,036,920. The disclosure for this sale can be found here. Insiders have sold 71,256 shares of company stock valued at $4,550,057 in the last ninety days. 11.28% of the stock is owned by company insiders.

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.