California Public Employees Retirement System Has $32.25 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

California Public Employees Retirement System reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448,440 shares of the company’s stock after selling 12,396 shares during the period. California Public Employees Retirement System’s holdings in Zoom Video Communications were worth $32,247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC boosted its position in Zoom Video Communications by 96.2% during the third quarter. CWM LLC now owns 2,975 shares of the company’s stock valued at $208,000 after purchasing an additional 1,459 shares during the last quarter. AE Wealth Management LLC acquired a new position in Zoom Video Communications during the third quarter valued at approximately $219,000. State of Alaska Department of Revenue boosted its position in Zoom Video Communications by 1.7% during the third quarter. State of Alaska Department of Revenue now owns 42,925 shares of the company’s stock valued at $3,002,000 after purchasing an additional 715 shares during the last quarter. Oak Thistle LLC boosted its position in Zoom Video Communications by 22.0% during the third quarter. Oak Thistle LLC now owns 4,581 shares of the company’s stock valued at $320,000 after purchasing an additional 827 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Zoom Video Communications by 1.5% during the third quarter. Asset Management One Co. Ltd. now owns 92,755 shares of the company’s stock valued at $6,487,000 after purchasing an additional 1,350 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ZM. Jefferies Financial Group began coverage on 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. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Thursday, April 18th. Mizuho dropped their price objective on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research note on Thursday, January 18th. Finally, Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.56.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now owns 71,956 shares in the company, valued at approximately $5,036,920. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the sale, the insider now owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 1,931 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $135,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 93,224 shares of company stock worth $5,872,091 in the last 90 days. Company insiders own 11.28% of the company’s stock.

Zoom Video Communications Trading Up 1.6 %

Shares of NASDAQ ZM opened at $62.00 on Friday. The firm has a market cap of $19.07 billion, a P/E ratio of 30.39 and a beta of -0.07. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90. The business’s 50 day moving average is $64.57 and its 200-day moving average is $65.78.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS 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.