Royal London Asset Management Ltd. Sells 5,166 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Royal London Asset Management Ltd. decreased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,751 shares of the company’s stock after selling 5,166 shares during the period. Royal London Asset Management Ltd.’s holdings in Zoom Video Communications were worth $5,727,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZM. Private Advisor Group LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter valued at $345,000. Principal Securities Inc. purchased a new stake in Zoom Video Communications during the fourth quarter valued at about $25,000. Dimensional Fund Advisors LP lifted its holdings in Zoom Video Communications by 30.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,033,500 shares of the company’s stock valued at $74,332,000 after purchasing an additional 242,944 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Zoom Video Communications in the fourth quarter worth about $780,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Zoom Video Communications by 269.7% in 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 in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

Shares of ZM opened at $67.59 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77. The company’s fifty day moving average is $61.69 and its 200 day moving average is $62.41. The stock has a market capitalization of $20.90 billion, a PE ratio of 25.22, a P/E/G ratio of 5.91 and a beta of -0.05.

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

Insider Buying and Selling

In other news, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the transaction, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at $97,830.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,121.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,014 shares of company stock valued at $7,070,162. Company insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. UBS Group raised Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Thursday, August 22nd. Wells Fargo & Company raised their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Two investment 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’s stock. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $75.10.

Zoom Video Communications 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.