Toronto Dominion Bank Reduces Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Toronto Dominion Bank decreased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,860 shares of the company’s stock after selling 8,108 shares during the quarter. Toronto Dominion Bank’s holdings in Zoom Video Communications were worth $5,082,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Renaissance Technologies LLC grew its holdings in shares of Zoom Video Communications by 61.0% in the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after purchasing an additional 2,444,294 shares during the period. Norges Bank purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $98,156,000. FMR LLC grew its holdings in shares of Zoom Video Communications by 28.3% in the first quarter. FMR LLC now owns 6,171,801 shares of the company’s stock valued at $455,726,000 after purchasing an additional 1,361,860 shares during the period. Two Sigma Investments LP grew its holdings in shares of Zoom Video Communications by 66.6% in the fourth quarter. Two Sigma Investments LP now owns 3,108,252 shares of the company’s stock valued at $210,553,000 after purchasing an additional 1,242,000 shares during the period. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Zoom Video Communications by 152.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,211,791 shares of the company’s stock valued at $82,087,000 after purchasing an additional 731,681 shares during the period. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Zoom Video Communications Stock Up 1.0 %

Shares of NASDAQ:ZM opened at $71.72 on Friday. The firm’s 50 day moving average price is $68.88 and its 200 day moving average price is $68.66. The stock has a market cap of $21.34 billion, a price-to-earnings ratio of 163.00, a price-to-earnings-growth ratio of 1.18 and a beta of -0.21. Zoom Video Communications, Inc. has a fifty-two week low of $60.45 and a fifty-two week high of $89.67.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, August 21st. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.28. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Zoom Video Communications, Inc. will post 1.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, August 22nd. Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a report on Wednesday, August 23rd. JPMorgan Chase & Co. lowered their target price on shares of Zoom Video Communications from $85.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, August 22nd. Moffett Nathanson raised shares of Zoom Video Communications from an “underperform” rating to a “market perform” rating and set a $85.00 target price for the company in a research note on Tuesday, May 23rd. Finally, Evercore ISI lowered their target price on shares of Zoom Video Communications from $85.00 to $75.00 in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $82.05.

Insiders Place Their Bets

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 10,960 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $68.40, for a total transaction of $749,664.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Kelly Steckelberg sold 10,960 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $68.40, for a total transaction of $749,664.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Santiago Subotovsky sold 2,070 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $68.25, for a total transaction of $141,277.50. Following the transaction, the director now owns 174,162 shares in the company, valued at $11,886,556.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,428 shares of company stock valued at $6,035,711. 11.28% of the stock is owned by corporate insiders.

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.