Phoenix Wealth Advisors cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 40.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,979 shares of the company's stock after selling 2,745 shares during the quarter. Phoenix Wealth Advisors' holdings in Zoom Video Communications were worth $293,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZM. Public Investment Fund bought a new stake in shares of Zoom Video Communications in the 2nd quarter valued at about $507,208,000. Renaissance Technologies LLC grew its position in shares of Zoom Video Communications by 61.0% during the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company's stock worth $756,052,000 after purchasing an additional 2,444,294 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Zoom Video Communications by 20.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,341,298 shares of the company's stock worth $466,656,000 after purchasing an additional 1,071,273 shares in the last quarter. Baillie Gifford & Co. grew its position in shares of Zoom Video Communications by 12.3% during the 3rd quarter. Baillie Gifford & Co. now owns 8,466,914 shares of the company's stock worth $623,080,000 after purchasing an additional 929,812 shares in the last quarter. Finally, Capital Wealth Alliance LLC acquired a new position in shares of Zoom Video Communications during the 2nd quarter worth approximately $4,230,000. 52.96% of the stock is owned by institutional investors.
Get Zoom Video Communications alerts:Insider Transactions at Zoom Video Communications
In other news, CFO Kelly Steckelberg sold 3,224 shares of the company's stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $67.80, for a total value of $218,587.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Zoom Video Communications news, President Gregory Tomb sold 4,801 shares of the company's stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $70.98, for a total transaction of $340,774.98. Following the transaction, the president now owns 28,611 shares in the company, valued at approximately $2,030,808.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 3,224 shares of the company's stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $67.80, for a total transaction of $218,587.20. The disclosure for this sale can be found here. Insiders have sold 24,442 shares of company stock valued at $1,709,539 in the last three months. 11.24% of the stock is currently owned by company insiders.
Zoom Video Communications Stock Performance
NASDAQ:ZM traded up $1.14 during midday trading on Monday, reaching $75.29. 2,740,080 shares of the stock traded hands, compared to its average volume of 2,913,557. The company has a fifty day moving average of $70.64 and a 200 day moving average of $81.69. Zoom Video Communications, Inc. has a 12 month low of $63.55 and a 12 month high of $156.05. The stock has a market capitalization of $22.41 billion, a P/E ratio of 32.52, a PEG ratio of 3.80 and a beta of -0.26.Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Zoom Video Communications had a return on equity of 8.86% and a net margin of 16.07%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted $0.72 earnings per share. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts predict that Zoom Video Communications, Inc. will post 1 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of Zoom Video Communications from $77.00 to $75.00 in a research note on Tuesday, January 17th. The Goldman Sachs Group dropped their price objective on shares of Zoom Video Communications from $104.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, November 23rd. Morgan Stanley dropped their price objective on shares of Zoom Video Communications from $85.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 14th. Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $90.00 to $80.00 in a research note on Wednesday, November 9th. Finally, Evercore ISI dropped their price target on shares of Zoom Video Communications from $95.00 to $85.00 in a research note on Tuesday, November 22nd. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of "Hold" and a consensus price target of $103.76.
About Zoom Video Communications
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Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.
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