Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 26.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 845,084 shares of the company’s stock after selling 297,816 shares during the quarter. Ensign Peak Advisors Inc owned about 0.27% of Zoom Video Communications worth $50,021,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in Zoom Video Communications during the 4th quarter valued at about $25,000. Dimensional Fund Advisors LP grew its position in shares of Zoom Video Communications by 30.7% in 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 in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $780,000. Quadrant Capital Group LLC lifted its position in 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 buying an additional 267 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Zoom Video Communications by 7.3% during the fourth quarter. D.A. Davidson & CO. now owns 8,581 shares of the company’s stock worth $617,000 after buying an additional 585 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on ZM. Wells Fargo & Company lifted their price target on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Benchmark reaffirmed a “buy” rating and set a $83.00 target price on shares of Zoom Video Communications in a research note on Monday, August 5th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Bank of America reduced their price target 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. Finally, Morgan Stanley cut their target price on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $74.68.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of Zoom Video Communications 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 sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,121.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction of $2,160,463.40. Following the completion of the sale, the chief executive officer now directly owns 113,684 shares of the company’s stock, valued at $6,495,903.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,915 shares of company stock worth $7,661,812. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Trading Up 0.9 %

NASDAQ:ZM opened at $67.53 on Friday. The stock has a fifty day moving average price of $62.72 and a 200 day moving average price of $62.29. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77. The firm has a market cap of $20.89 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 5.83 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

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.