Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 92.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,533 shares of the company’s stock after selling 189,074 shares during the period. Los Angeles Capital Management LLC’s holdings in Zoom Video Communications were worth $919,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ZM. Principal Securities Inc. purchased a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC lifted its stake in shares of Zoom Video Communications by 269.7% during the 4th 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 $32,000. Innealta Capital LLC purchased a new stake in shares of Zoom Video Communications in the second quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications in the second quarter valued at $36,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Trading Down 1.1 %

NASDAQ ZM opened at $66.55 on Friday. The stock has a market cap of $20.48 billion, a P/E ratio of 24.83, a PEG ratio of 5.90 and a beta of -0.05. The company’s fifty day simple moving average is $61.50 and its 200-day simple moving average is $62.38. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last issued 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. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. On average, research analysts expect that Zoom Video Communications, Inc. will post 2.69 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total transaction of $288,353.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the sale, the chief executive officer now owns 85,514 shares in the company, valued at $5,847,447.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total value of $288,353.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,014 shares of company stock valued at $7,070,162. Insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ZM. Stifel Nicolaus lowered 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. Robert W. Baird dropped their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Wells Fargo & Company upped their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus price target 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.