Public Employees Retirement Association of Colorado Sells 222 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Public Employees Retirement Association of Colorado lessened its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,383 shares of the company’s stock after selling 222 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Zoom Video Communications were worth $1,502,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Principal Securities Inc. bought a new position in Zoom Video Communications during the 4th quarter worth about $25,000. Janney Montgomery Scott LLC bought a new position in Zoom Video Communications in the fourth quarter worth approximately $780,000. Quadrant Capital Group LLC lifted its holdings 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 during the period. D.A. Davidson & CO. boosted its position in Zoom Video Communications by 7.3% during the 4th quarter. D.A. Davidson & CO. now owns 8,581 shares of the company’s stock valued at $617,000 after acquiring an additional 585 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in Zoom Video Communications by 12.2% during the 4th quarter. Corient Private Wealth LLC now owns 7,166 shares of the company’s stock valued at $515,000 after acquiring an additional 777 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $69.43 on Wednesday. The firm has a market capitalization of $21.47 billion, a P/E ratio of 25.91, a PEG ratio of 5.83 and a beta of -0.05. The company’s fifty day moving average price is $63.14 and its 200-day moving average price is $62.29. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating 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 analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ZM shares. Rosenblatt Securities restated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Piper Sandler lowered their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Morgan Stanley lowered their target price on shares of 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. Finally, Wells Fargo & Company increased their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating 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 five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.68.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 2,493 shares of the firm’s 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 sale, the chief accounting officer now owns 2,367 shares in the company, valued at $137,901.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total value of $591,649.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 2,493 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $58.26, for a total value of $145,242.18. Following the transaction, the chief accounting officer now owns 2,367 shares in the company, valued at approximately $137,901.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,908 shares of company stock valued at $7,373,459. 10.78% of the stock is owned by company insiders.

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.