Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its holdings in Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,394 shares of the company’s stock after selling 3,217 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Zoom Video Communications were worth $7,348,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pearl River Capital LLC grew its position in shares of Zoom Video Communications by 31.6% during the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock worth $2,601,000 after buying an additional 8,928 shares in the last quarter. California Public Employees Retirement System lifted its stake in Zoom Video Communications by 3.4% in the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock worth $32,231,000 after acquiring an additional 14,945 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares during the last quarter. Galvin Gaustad & Stein LLC raised its holdings in shares of Zoom Video Communications by 25.4% in the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after purchasing an additional 66,433 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Zoom Video Communications by 556.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company’s stock worth $8,923,000 after purchasing an additional 105,173 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,067 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $69.83, for a total value of $144,338.61. Following the completion of the transaction, the director now directly owns 155,559 shares of the company’s stock, valued at $10,862,684.97. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Santiago Subotovsky sold 2,067 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $69.83, for a total value of $144,338.61. Following the sale, the director now directly owns 155,559 shares in the company, valued at approximately $10,862,684.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $69.84, for a total transaction of $169,012.80. Following the completion of the sale, the chief executive officer now directly owns 85,160 shares in the company, valued at approximately $5,947,574.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,170 shares of company stock worth $6,356,101. Corporate insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. JPMorgan Chase & Co. reduced their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Jefferies Financial Group initiated coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price target on the stock. Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Finally, Rosenblatt Securities upgraded shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, April 18th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.56.

View Our Latest Stock Report on Zoom Video Communications

Zoom Video Communications Trading Up 0.3 %

Shares of ZM opened at $64.16 on Friday. The stock’s 50 day moving average is $63.53 and its two-hundred day moving average is $65.84. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90. The firm has a market capitalization of $19.73 billion, a PE ratio of 31.45 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last posted its quarterly earnings results 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 return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, sell-side analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Zoom Video Communications Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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