PNC Financial Services Group Inc. Has $373,000 Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

PNC Financial Services Group Inc. decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 20.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,186 shares of the company’s stock after selling 1,368 shares during the period. PNC Financial Services Group Inc.’s holdings in Zoom Video Communications were worth $373,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ZM. Norges Bank bought a new position in shares of Zoom Video Communications in the 4th quarter valued at $164,224,000. Vanguard Group Inc. boosted its stake in shares of Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Zoom Video Communications by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after purchasing an additional 781,663 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Zoom Video Communications by 5,787.2% in the fourth quarter. International Assets Investment Management LLC now owns 583,190 shares of the company’s stock valued at $41,937,000 after buying an additional 573,284 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Zoom Video Communications by 36.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,826,433 shares of the company’s stock valued at $131,339,000 after buying an additional 487,796 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 1.2 %

NASDAQ ZM opened at $59.19 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.63 and a 52 week high of $75.90. The business has a 50 day moving average price of $61.20 and a 200-day moving average price of $64.82. The company has a market cap of $18.31 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 8.83 and a beta of -0.01.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly 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. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZM. Citigroup upped their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Wells Fargo & Company lowered their target price on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, June 21st. Evercore ISI reduced their price target on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, May 21st. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Finally, Sanford C. Bernstein decreased their target price on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $75.44.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 874 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $61.78, for a total transaction of $53,995.72. Following the transaction, the chief operating officer now owns 2,814 shares of the company’s stock, valued at $173,848.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Aparna Bawa sold 874 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $61.78, for a total value of $53,995.72. Following the transaction, the chief operating officer now owns 2,814 shares in the company, valued at approximately $173,848.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Santiago Subotovsky sold 1,100 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $65.38, for a total value of $71,918.00. Following the sale, the director now directly owns 154,459 shares of the company’s stock, valued at $10,098,529.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,200 shares of company stock valued at $6,716,211. Corporate insiders own 10.78% of the company’s stock.

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.