Sumitomo Mitsui Trust Holdings Inc. Has $221.21 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,737,342 shares of the company’s stock after selling 1,162,946 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 1.21% of Zoom Video Communications worth $221,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ZM. KBC Group NV grew its holdings in Zoom Video Communications by 134.3% during the 4th quarter. KBC Group NV now owns 561,558 shares of the company’s stock worth $40,382,000 after acquiring an additional 321,921 shares during the last quarter. Vanguard Group Inc. raised its position in Zoom Video Communications by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after purchasing an additional 721,923 shares during the last quarter. Ossiam raised its position in Zoom Video Communications by 1,917.4% in the 4th quarter. Ossiam now owns 231,474 shares of the company’s stock worth $16,645,000 after purchasing an additional 220,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Zoom Video Communications by 9.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock valued at $30,171,000 after buying an additional 38,924 shares during the last quarter. Finally, Contrarius Investment Management Ltd increased its stake in shares of Zoom Video Communications by 31.2% in the 4th quarter. Contrarius Investment Management Ltd now owns 1,164,674 shares of the company’s stock valued at $83,752,000 after buying an additional 277,257 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZM. Robert W. Baird cut their price objective on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Wells Fargo & Company reduced their price target on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, June 21st. Rosenblatt Securities upped their price objective on Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Benchmark restated a “buy” rating and set a $83.00 target price on shares of Zoom Video Communications in a report on Monday, August 5th. Finally, Stifel Nicolaus decreased their target price on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.22.

Zoom Video Communications Trading Up 0.4 %

Shares of Zoom Video Communications stock traded up $0.22 on Friday, reaching $58.07. 1,735,020 shares of the company were exchanged, compared to its average volume of 3,186,573. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 8.75 and a beta of -0.05. The company has a 50-day moving average of $58.23 and a 200 day moving average of $61.87. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Analysts predict that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,589 shares of the stock in a transaction that occurred on Sunday, June 9th. The shares were sold at an average price of $62.42, for a total transaction of $224,025.38. Following the transaction, the insider now owns 81,287 shares in the company, valued at approximately $5,073,934.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Shane Crehan sold 1,538 shares of the company’s stock in a transaction that occurred on Sunday, June 9th. The shares were sold at an average price of $62.42, for a total transaction of $96,001.96. Following the completion of the sale, the chief accounting officer now owns 1,475 shares of the company’s stock, valued at approximately $92,069.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,589 shares of the stock in a transaction that occurred on Sunday, June 9th. The stock was sold at an average price of $62.42, for a total transaction of $224,025.38. Following the sale, the insider now owns 81,287 shares in the company, valued at approximately $5,073,934.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,629 shares of company stock valued at $6,887,868. Insiders own 10.78% of the company’s stock.

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.