Maryland State Retirement & Pension System Increases Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Maryland State Retirement & Pension System lifted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,787 shares of the company’s stock after purchasing an additional 915 shares during the period. Maryland State Retirement & Pension System’s holdings in Zoom Video Communications were worth $1,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Xponance Inc. increased its holdings in Zoom Video Communications by 4.6% in the third quarter. Xponance Inc. now owns 9,100 shares of the company’s stock valued at $636,000 after buying an additional 401 shares in the last quarter. Raymond James & Associates boosted its position in shares of Zoom Video Communications by 4.0% in the 3rd quarter. Raymond James & Associates now owns 82,788 shares of the company’s stock worth $5,790,000 after buying an additional 3,203 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Zoom Video Communications by 4.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 62,964 shares of the company’s stock valued at $4,404,000 after acquiring an additional 2,573 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in Zoom Video Communications during the 3rd quarter valued at about $302,000. Finally, Bank of New York Mellon Corp raised its position in Zoom Video Communications by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 1,240,923 shares of the company’s stock worth $86,790,000 after acquiring an additional 56,363 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 1.5 %

ZM opened at $61.23 on Thursday. The company has a market capitalization of $18.83 billion, a PE ratio of 30.01 and a beta of -0.05. The firm has a 50-day simple moving average of $64.43 and a two-hundred day simple moving average of $65.74. 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 announced 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 firm 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%. As a group, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Insider Buying and Selling at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,931 shares of the firm’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 transaction of $135,170.00. 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 stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Shane Crehan sold 1,931 shares of Zoom Video Communications stock in a transaction 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 have sold 98,230 shares of company stock valued at $6,175,032 in the last quarter. 10.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of research analyst reports. Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Mizuho reduced 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. Piper Sandler boosted their price target on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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. Two equities research 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, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $77.56.

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.