Zoom Video Communications, Inc. (NASDAQ:ZM) Holdings Cut by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 31.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,616 shares of the company's stock after selling 9,200 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Zoom Video Communications were worth $1,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZM. CIBC Asset Management Inc increased its holdings in shares of Zoom Video Communications by 5.4% during the third quarter. CIBC Asset Management Inc now owns 9,108 shares of the company's stock worth $635,000 after buying an additional 467 shares in the last quarter. ING Groep NV acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at about $2,539,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company's stock worth $556,000 after buying an additional 145 shares in the last quarter. Metis Global Partners LLC raised its stake in Zoom Video Communications by 7.1% during the 3rd quarter. Metis Global Partners LLC now owns 4,046 shares of the company's stock worth $282,000 after buying an additional 267 shares during the period. Finally, Mizuho Securities Co. Ltd. grew its position in Zoom Video Communications by 171.4% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 8,250 shares of the company's stock valued at $575,000 after purchasing an additional 5,210 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ZM shares. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a report on Friday, October 11th. UBS Group raised Zoom Video Communications to a "hold" rating in a report on Friday, July 26th. Bank of America lowered their target price on Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, August 22nd. Royal Bank of Canada restated an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, October 10th. Finally, Stifel Nicolaus boosted their price objective on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $76.26.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of the business's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares of the company's stock, valued at $97,830.81. This trade represents a 51.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 372,121 shares of company stock valued at $27,095,467 in the last three months. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Performance

ZM stock traded down $1.49 during trading on Friday, reaching $81.14. 2,233,383 shares of the company traded hands, compared to its average volume of 3,226,483. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $87.15. The business has a 50 day simple moving average of $71.79 and a 200 day simple moving average of $64.72. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 7.33 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $0.55 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Zoom Video Communications 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.