Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,232 shares of the company’s stock after selling 2,443 shares during the quarter. Malaga Cove Capital LLC’s holdings in Zoom Video Communications were worth $808,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ZM. Acadian Asset Management LLC increased its holdings in shares of Zoom Video Communications by 639.9% in the third quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after purchasing an additional 1,408,908 shares during the last quarter. Vanguard Group Inc. increased its stake 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 acquiring an additional 1,000,005 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after acquiring an additional 781,663 shares during the period. International Assets Investment Management LLC boosted its position in shares of 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 acquiring an additional 573,284 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Zoom Video Communications by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,826,433 shares of the company’s stock valued at $131,339,000 after purchasing an additional 487,796 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 816 shares of Zoom Video Communications stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,734.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $61.42, for a total transaction of $307,529.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $131,734.80. The disclosure for this sale can be found here. Insiders sold a total of 98,231 shares of company stock worth $6,179,621 over the last ninety days. 11.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on ZM. Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Rosenblatt Securities raised shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note 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 for the company. in a report on Thursday, January 18th. JPMorgan Chase & Co. dropped their price target on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, Mizuho reduced their price objective on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded down $1.01 during mid-day trading on Friday, reaching $61.82. The company had a trading volume of 3,041,928 shares, compared to its average volume of 2,863,555. The stock’s 50-day simple moving average is $64.58 and its 200-day simple moving average is $65.71. The company has a market capitalization of $19.01 billion, a P/E ratio of 30.30 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $75.90.

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

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.