Mercer Global Advisors Inc. ADV Cuts Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mercer Global Advisors Inc. ADV lessened its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 14.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,432 shares of the company’s stock after selling 954 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Zoom Video Communications were worth $322,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new position in Zoom Video Communications during the second quarter worth about $1,050,000. Primecap Management Co. CA boosted its holdings in shares of Zoom Video Communications by 20.0% during the 2nd quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock worth $75,794,000 after purchasing an additional 213,575 shares during the last quarter. Excalibur Management Corp boosted its holdings in shares of Zoom Video Communications by 5.6% during the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after purchasing an additional 232 shares during the last quarter. Menard Financial Group LLC purchased a new stake in shares of Zoom Video Communications in the second quarter valued at approximately $247,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Zoom Video Communications by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after purchasing an additional 264,217 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 2,493 shares of Zoom Video Communications stock in a transaction on Monday, July 8th. The shares were sold at an average price of $58.26, for a total transaction of $145,242.18. Following the completion of the sale, the chief accounting officer now directly owns 2,367 shares of the company’s stock, valued at approximately $137,901.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Shane Crehan sold 2,493 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $58.26, for a total transaction of $145,242.18. Following the sale, the chief accounting officer now owns 2,367 shares of the company’s stock, valued at approximately $137,901.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 37,810 shares of the company’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 value 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 $6,495,903.76. The disclosure for this sale can be found here. Insiders have sold a total of 123,908 shares of company stock valued at $7,373,459 over the last 90 days. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Up 0.9 %

NASDAQ:ZM opened at $69.55 on Monday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.77. The company has a fifty day simple moving average of $63.72 and a two-hundred day simple moving average of $62.28. The company has a market cap of $21.51 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 5.98 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results 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 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%. Zoom Video Communications’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 EPS. On average, analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ZM. Robert W. Baird dropped their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Benchmark restated a “buy” rating and set a $83.00 price objective on shares of Zoom Video Communications in a research report on Monday, August 5th. Bank of America dropped their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley cut their price target on shares of 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, Deutsche Bank Aktiengesellschaft upped their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.68.

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.