New York State Common Retirement Fund Lowers Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

New York State Common Retirement Fund decreased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 193,379 shares of the company’s stock after selling 19,490 shares during the period. New York State Common Retirement Fund’s holdings in Zoom Video Communications were worth $13,906,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in Zoom Video Communications by 639.9% during the third quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock worth $113,916,000 after acquiring an additional 1,408,908 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after purchasing an additional 1,000,005 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Zoom Video Communications by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after buying an additional 781,663 shares during the last quarter. International Assets Investment Management LLC increased its position in Zoom Video Communications by 5,787.2% during the 4th quarter. International Assets Investment Management LLC now owns 583,190 shares of the company’s stock valued at $41,937,000 after buying an additional 573,284 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Zoom Video Communications by 36.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,826,433 shares of the company’s stock valued at $131,339,000 after buying an additional 487,796 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Mizuho reduced their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Piper Sandler upped their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price target for the company. Finally, BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.56.

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 21,968 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $60.18, for a total value of $1,322,034.24. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $119,036.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Aparna Bawa sold 21,968 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $119,036.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 1,931 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $135,170.00. The disclosure for this sale can be found here. Insiders sold 93,224 shares of company stock worth $5,872,091 in the last quarter. 11.28% of the stock is owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of ZM opened at $63.32 on Tuesday. The firm has a market cap of $19.47 billion, a P/E ratio of 31.04 and a beta of -0.07. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $75.90. The company has a 50 day simple moving average of $64.59 and a two-hundred day simple moving average of $65.78.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. The business had revenue of $1.15 billion for 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%. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

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.