Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Holdings Decreased by American Century Companies Inc.

American Century Companies Inc. lowered its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 45.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 175,459 shares of the company’s stock after selling 148,838 shares during the period. American Century Companies Inc. owned 0.06% of Zoom Video Communications worth $12,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in shares of Zoom Video Communications by 61.0% in the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after buying an additional 2,444,294 shares during the period. Norges Bank acquired a new position in Zoom Video Communications during the 4th quarter valued at about $98,156,000. Two Sigma Investments LP boosted its stake in Zoom Video Communications by 66.6% during the 4th 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. Alyeska Investment Group L.P. boosted its stake in Zoom Video Communications by 152.4% during the 4th 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. Finally, Two Sigma Advisers LP boosted its stake in Zoom Video Communications by 13.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,071,200 shares of the company’s stock valued at $208,043,000 after purchasing an additional 352,500 shares during the period. Institutional investors own 54.85% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 7,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $69.17, for a total transaction of $484,190.00. Following the transaction, the chief operating officer now owns 8,976 shares in the company, valued at approximately $620,869.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Aparna Bawa sold 7,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $69.17, for a total transaction of $484,190.00. Following the transaction, the chief operating officer now owns 8,976 shares in the company, valued at approximately $620,869.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $68.94, for a total transaction of $222,262.56. The disclosure for this sale can be found here. Insiders have sold a total of 86,428 shares of company stock worth $6,035,711 in the last 90 days. 11.28% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on ZM shares. Evercore ISI reduced their target price on shares of Zoom Video Communications from $85.00 to $75.00 in a research note on Tuesday, May 23rd. Piper Sandler reduced their price target on shares of Zoom Video Communications from $78.00 to $76.00 in a research note on Tuesday, May 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, August 22nd. Mizuho reaffirmed a “buy” rating and issued a $100.00 price target on shares of Zoom Video Communications in a research note on Tuesday, August 22nd. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Zoom Video Communications in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $82.05.

Zoom Video Communications Stock Up 1.0 %

ZM stock opened at $71.72 on Friday. Zoom Video Communications, Inc. has a 12-month low of $60.45 and a 12-month high of $89.67. The company has a market cap of $21.34 billion, a price-to-earnings ratio of 163.00, a PEG ratio of 1.18 and a beta of -0.21. The company has a 50 day moving average of $68.88 and a two-hundred day moving average of $68.66.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, August 21st. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts anticipate that Zoom Video Communications, Inc. will post 1.71 EPS for the current year.

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.