First Trust Direct Indexing L.P. Sells 960 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

First Trust Direct Indexing L.P. trimmed its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 25.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,885 shares of the company’s stock after selling 960 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Zoom Video Communications were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Avory & Company LLC raised its holdings in shares of Zoom Video Communications by 4.4% during the 4th quarter. Avory & Company LLC now owns 236,831 shares of the company’s stock worth $17,031,000 after buying an additional 9,940 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Zoom Video Communications during the 4th quarter worth $787,000. Van ECK Associates Corp raised its holdings in shares of Zoom Video Communications by 373.7% during the 4th quarter. Van ECK Associates Corp now owns 28,567 shares of the company’s stock worth $2,054,000 after buying an additional 22,537 shares in the last quarter. Intellectus Partners LLC raised its holdings in shares of Zoom Video Communications by 18.3% during the 4th quarter. Intellectus Partners LLC now owns 11,574 shares of the company’s stock worth $832,000 after buying an additional 1,790 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Zoom Video Communications by 9.3% during the 4th quarter. Russell Investments Group Ltd. now owns 270,245 shares of the company’s stock worth $19,677,000 after buying an additional 22,897 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Mizuho lowered their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a report on Thursday, January 18th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Rosenblatt Securities raised Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, April 18th. Finally, Jefferies Financial Group began coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $61.23 on Thursday. Zoom Video Communications, Inc. has a one year low of $58.87 and a one year high of $75.90. The stock’s 50-day moving average is $64.43 and its 200 day moving average is $65.74. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 30.01 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,067 shares of the 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 transaction, the director now owns 157,626 shares in the company, valued at $10,384,400.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,067 shares of the 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 transaction, the director now owns 157,626 shares in the company, valued at $10,384,400.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $69.84, for a total value of $169,012.80. Following the completion of the transaction, the chief executive officer now owns 85,160 shares in the company, valued at approximately $5,947,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 98,230 shares of company stock worth $6,175,032 in the last 90 days. Corporate insiders own 10.78% of the company’s stock.

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.