Daiwa Securities Group Inc. Cuts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Daiwa Securities Group Inc. reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 38.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,681 shares of the company’s stock after selling 12,811 shares during the period. Daiwa Securities Group Inc.’s holdings in Zoom Video Communications were worth $1,487,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Zoom Video Communications by 3.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,528 shares of the company’s stock valued at $457,000 after buying an additional 200 shares during the last quarter. Amalgamated Bank boosted its position in Zoom Video Communications by 0.8% in the third quarter. Amalgamated Bank now owns 24,850 shares of the company’s stock worth $1,738,000 after purchasing an additional 205 shares during the last quarter. Excalibur Management Corp boosted its position in Zoom Video Communications by 6.8% in the third quarter. Excalibur Management Corp now owns 4,083 shares of the company’s stock worth $286,000 after purchasing an additional 259 shares during the last quarter. Allworth Financial LP boosted its position in Zoom Video Communications by 101.4% in the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC boosted its position in Zoom Video Communications by 7.0% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 4,537 shares of the company’s stock worth $326,000 after purchasing an additional 296 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZM has been the topic of several research reports. Jefferies Financial Group initiated coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price on the stock. Rosenblatt Securities raised Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, April 18th. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research report on Thursday, January 18th. JPMorgan Chase & Co. dropped their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Trading Up 3.5 %

Shares of ZM opened at $61.62 on Wednesday. The business’s 50 day moving average is $64.68 and its 200 day moving average is $65.87. The company has a market capitalization of $18.95 billion, a PE ratio of 30.21 and a beta of -0.07. Zoom Video Communications, Inc. has a 12-month low of $58.87 and a 12-month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.34. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. Equities research analysts predict that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,421 shares of Zoom Video Communications stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the sale, the chief executive officer now owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,421 shares of Zoom Video Communications stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the sale, the chief executive officer now owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,067 shares of Zoom Video Communications stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $65.88, for a total value of $136,173.96. Following the completion of the sale, the director now directly owns 157,626 shares in the company, valued at approximately $10,384,400.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,224 shares of company stock valued at $5,872,091. 11.28% of the stock is owned by company 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.