Swiss National Bank Reduces Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Swiss National Bank decreased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 734,100 shares of the company’s stock after selling 11,200 shares during the period. Swiss National Bank owned approximately 0.24% of Zoom Video Communications worth $47,988,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Principal Securities Inc. acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $25,000. Quadrant Capital Group LLC lifted its holdings in shares of Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Frazier Financial Advisors LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $32,000. Rakuten Securities Inc. acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $43,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded up $0.45 during mid-day trading on Monday, reaching $58.03. The company’s stock had a trading volume of 204,413 shares, compared to its average volume of 3,304,317. The stock has a 50-day moving average of $60.42 and a two-hundred day moving average of $63.71. The stock has a market capitalization of $17.95 billion, a P/E ratio of 21.49, a P/E/G ratio of 8.83 and a beta of -0.05. Zoom Video Communications, Inc. has a 1-year low of $55.63 and a 1-year high of $75.90.

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

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 37,810 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 113,684 shares in the company, valued at $6,495,903.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total value of $297,215.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 37,810 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 113,684 shares of the company’s stock, valued at approximately $6,495,903.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,272 shares of company stock worth $7,981,517. Insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, May 21st. Stifel Nicolaus decreased their price target on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a report on Tuesday, May 21st. Sanford C. Bernstein decreased their price target on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Tuesday, May 21st. Morgan Stanley decreased their price target on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Finally, Jefferies Financial Group started coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.22.

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.