Los Angeles Capital Management LLC Sells 189,074 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Los Angeles Capital Management LLC decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 92.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,533 shares of the company's stock after selling 189,074 shares during the period. Los Angeles Capital Management LLC's holdings in Zoom Video Communications were worth $919,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in Zoom Video Communications in the fourth quarter valued at $25,000. Quadrant Capital Group LLC increased its stake in shares of Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company's stock valued at $26,000 after buying an additional 267 shares during the period. Frazier Financial Advisors LLC bought a new position in shares of Zoom Video Communications during the fourth quarter worth about $32,000. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications in the second quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ZM shares. Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $70.00 to $65.00 and set a "hold" rating on the stock in a research report on Tuesday, May 21st. Rosenblatt Securities reaffirmed a "buy" rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Benchmark reissued a "buy" rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research note on Monday, August 5th. Finally, Robert W. Baird decreased their target price on Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating for the company in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of "Hold" and a consensus price target of $75.10.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded up $1.04 during midday trading on Friday, hitting $67.59. 2,061,456 shares of the company's stock were exchanged, compared to its average volume of 3,375,965. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $74.77. The company has a market cap of $20.90 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 5.91 and a beta of -0.05. The stock has a 50 day moving average price of $61.50 and a 200-day moving average price of $62.38.

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 the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. On average, analysts anticipate that Zoom Video Communications, Inc. will post 2.69 EPS for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 2,493 shares of the business's stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $58.26, for a total transaction of $145,242.18. Following the transaction, the chief accounting officer now directly owns 2,367 shares in the company, valued at $137,901.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,810 shares of the company's stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.14, for a total value of $2,160,463.40. Following the completion of the transaction, the chief executive officer now owns 113,684 shares in the company, valued at approximately $6,495,903.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 2,493 shares of Zoom Video Communications stock in a transaction on Monday, July 8th. The stock was sold at an average price of $58.26, for a total value of $145,242.18. Following the sale, the chief accounting officer now owns 2,367 shares in the company, valued at $137,901.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,014 shares of company stock worth $7,070,162. Corporate insiders own 10.78% of the company's stock.

About Zoom Video Communications

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.