New York State Common Retirement Fund Has $13.91 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

New York State Common Retirement Fund lowered its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,379 shares of the company’s stock after selling 19,490 shares during the period. New York State Common Retirement Fund owned 0.06% of Zoom Video Communications worth $13,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Xponance Inc. raised its holdings in Zoom Video Communications by 2.0% in the 4th quarter. Xponance Inc. now owns 9,279 shares of the company’s stock valued at $667,000 after buying an additional 179 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Zoom Video Communications by 3.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,528 shares of the company’s stock valued at $457,000 after acquiring an additional 200 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Zoom Video Communications by 0.8% during the third quarter. Amalgamated Bank now owns 24,850 shares of the company’s stock worth $1,738,000 after purchasing an additional 205 shares during the period. Excalibur Management Corp increased its holdings in Zoom Video Communications by 6.8% in the third quarter. Excalibur Management Corp now owns 4,083 shares of the company’s stock valued at $286,000 after purchasing an additional 259 shares during the period. Finally, Allworth Financial LP raised its position in Zoom Video Communications by 101.4% during the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 1,553 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now directly owns 71,956 shares of the company’s stock, valued at $5,036,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 71,956 shares of the company’s stock, valued at $5,036,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,931 shares of the business’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 $135,170.00. The disclosure for this sale can be found here. In the last three months, insiders sold 93,224 shares of company stock valued at $5,872,091. 11.28% of the stock is owned by insiders.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $63.32 on Tuesday. Zoom Video Communications, Inc. has a one year low of $58.87 and a one year high of $75.90. The company has a market cap of $19.47 billion, a PE ratio of 31.04 and a beta of -0.07. The firm has a 50-day moving average of $64.59 and a 200-day moving average of $65.78.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. On average, equities research analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZM has been the topic of a number of analyst reports. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, April 18th. BNP Paribas lowered shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a report on Thursday, January 18th. Mizuho dropped their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Jefferies Financial Group initiated coverage on Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price target for the company. Two 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.56.

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.