Versor Investments LP Sells 5,523 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Versor Investments LP reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,734 shares of the company’s stock after selling 5,523 shares during the quarter. Versor Investments LP’s holdings in Zoom Video Communications were worth $1,405,000 as of its most recent SEC filing.

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

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,810 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total value of $2,160,463.40. Following the sale, the chief executive officer now owns 113,684 shares in the company, valued at approximately $6,495,903.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Eric S. Yuan sold 37,810 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total transaction of $2,160,463.40. Following the sale, the chief executive officer now owns 113,684 shares of the company’s stock, valued at $6,495,903.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 874 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total value of $53,995.72. Following the sale, the chief operating officer now owns 2,814 shares in the company, valued at $173,848.92. The disclosure for this sale can be found here. Insiders have sold a total of 116,215 shares of company stock worth $6,729,257 over the last quarter. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded down $0.86 during midday trading on Monday, reaching $69.08. The stock had a trading volume of 5,144,400 shares, compared to its average volume of 3,404,046. The company has a market capitalization of $21.26 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 6.06 and a beta of -0.05. The stock has a 50-day moving average of $59.86 and a 200-day moving average of $62.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ZM. Wells Fargo & Company boosted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Bank of America cut their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Citigroup lifted their target price on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Thursday, August 22nd. Finally, Robert W. Baird decreased their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.10.

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.