Signaturefd LLC Reduces Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Signaturefd LLC cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 21.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,966 shares of the company’s stock after selling 833 shares during the quarter. Signaturefd LLC’s holdings in Zoom Video Communications were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. AM Squared Ltd acquired a new position in shares of Zoom Video Communications during the 3rd quarter worth about $28,000. Allworth Financial LP increased its stake in Zoom Video Communications by 101.4% during the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after buying an additional 282 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Zoom Video Communications by 134.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock valued at $51,000 after acquiring an additional 404 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Zoom Video Communications by 835.9% in the fourth quarter. Blue Trust Inc. now owns 1,226 shares of the company’s stock valued at $86,000 after acquiring an additional 1,095 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Up 1.6 %

Shares of NASDAQ ZM opened at $62.00 on Friday. The business has a 50-day moving average price of $64.57 and a 200 day moving average price of $65.77. The stock has a market cap of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. Sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Rosenblatt Securities raised shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, April 18th. Mizuho lowered their price target on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Jefferies Financial Group began coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. 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 report on Thursday, January 18th. Finally, Piper Sandler upped their price target on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.56.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 21,968 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $119,036.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the transaction, the insider now directly owns 71,956 shares of the company’s stock, valued at $5,036,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 21,968 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $119,036.04. The disclosure for this sale can be found here. Insiders have sold a total of 93,224 shares of company stock valued at $5,872,091 over the last quarter. 11.28% of the stock is currently owned by 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.