Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 15.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,455,848 shares of the company's stock after selling 638,000 shares during the quarter. Renaissance Technologies LLC owned 1.12% of Zoom Video Communications worth $204,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company's stock valued at $1,683,950,000 after purchasing an additional 721,923 shares during the last quarter. Acadian Asset Management LLC grew its stake in Zoom Video Communications by 60.9% during the 2nd 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 last quarter. FIL Ltd grew its stake in Zoom Video Communications by 1.3% during the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company's stock valued at $220,749,000 after purchasing an additional 40,456 shares during the last quarter. Norges Bank purchased a new stake in Zoom Video Communications during the 4th quarter valued at about $164,224,000. Finally, Dimensional Fund Advisors LP grew its stake in Zoom Video Communications by 24.0% during 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 during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group upgraded Zoom Video Communications to a "hold" rating in a research note on Friday, July 26th. Citigroup upped their target price on Zoom Video Communications from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 21st. Benchmark restated a "buy" rating and issued a $83.00 target price on shares of Zoom Video Communications in a research note on Monday, August 5th. Evercore ISI lowered their target price on Zoom Video Communications from $72.00 to $70.00 and set an "in-line" rating on the stock in a research note on Tuesday, May 21st. Finally, Robert W. Baird lowered their target price on Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $74.68.

Insider Transactions at Zoom Video Communications

In other news, 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 transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total value of $288,353.13. The disclosure for this sale can be found here. Insiders sold a total of 120,014 shares of company stock worth $7,070,162 over the last ninety days. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Up 0.0 %

Zoom Video Communications stock traded up $0.03 during mid-day trading on Monday, hitting $67.62. The company's stock had a trading volume of 4,054,739 shares, compared to its average volume of 3,379,789. The firm has a market capitalization of $20.81 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 5.84 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77. The stock's fifty day moving average is $61.69 and its two-hundred day moving average is $62.32.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Zoom Video Communications, Inc. will post 2.69 EPS for the current fiscal year.

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.