Empowered Funds LLC Has $8.11 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Empowered Funds LLC cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,218 shares of the company's stock after selling 10,718 shares during the period. Empowered Funds LLC's holdings in Zoom Video Communications were worth $8,105,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock worth $337,233,000 after acquiring an additional 2,520,987 shares during the period. Pacer Advisors Inc. raised its holdings in Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company's stock worth $310,566,000 after purchasing an additional 2,579,720 shares in the last quarter. Acadian Asset Management LLC lifted its position in Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock valued at $290,153,000 after purchasing an additional 1,855,679 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Zoom Video Communications by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company's stock valued at $80,827,000 after purchasing an additional 264,217 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Zoom Video Communications by 20.0% in the 2nd quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company's stock valued at $75,794,000 after purchasing an additional 213,575 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZM. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Rosenblatt Securities reissued a "buy" rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, October 4th. Stifel Nicolaus upped their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, October 10th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upped their price target on Zoom Video Communications from $55.00 to $60.00 and gave the stock an "underweight" rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $76.26.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded down $1.49 during midday trading on Friday, hitting $81.14. The company's stock had a trading volume of 2,234,811 shares, compared to its average volume of 2,708,715. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $87.15. The firm's fifty day moving average price is $72.07 and its 200-day moving average price is $64.84. The firm has a market cap of $24.97 billion, a P/E ratio of 29.08, a P/E/G ratio of 7.12 and a beta of -0.05.

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

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. The trade was a 23.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 372,121 shares of company stock valued at $27,095,467. 10.78% of the stock is currently owned by corporate insiders.

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.