Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 34.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,252 shares of the company's stock after selling 46,277 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Zoom Video Communications were worth $5,283,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Evoke Wealth LLC increased its position in shares of Zoom Video Communications by 3.5% during the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company's stock worth $364,000 after acquiring an additional 172 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company's stock worth $1,370,000 after purchasing an additional 189 shares during the period. Cantor Fitzgerald L. P. raised its position in Zoom Video Communications by 2.7% in the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company's stock valued at $544,000 after purchasing an additional 197 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Zoom Video Communications by 269.7% in the 4th 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. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Zoom Video Communications by 2.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company's stock worth $669,000 after buying an additional 273 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $56.12, for a total transaction of $135,810.40. Following the sale, the chief executive officer now owns 90,354 shares in the company, valued at $5,070,666.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,272 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the sale, the insider now directly owns 82,792 shares of the company's stock, valued at $4,731,562.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 2,420 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the transaction, the chief executive officer now directly owns 90,354 shares of the company's stock, valued at approximately $5,070,666.48. The disclosure for this sale can be found here. Insiders have sold a total of 120,014 shares of company stock valued at $7,070,162 in the last three months. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Up 0.7 %

Shares of ZM stock traded up $0.49 on Tuesday, reaching $68.11. 2,304,492 shares of the stock were exchanged, compared to its average volume of 3,373,785. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77. The stock has a market cap of $20.96 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 5.84 and a beta of -0.05. The firm has a 50 day moving average of $61.89 and a two-hundred day moving average of $62.29.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZM. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. UBS Group upgraded shares of Zoom Video Communications to a "hold" rating in a research note on Friday, July 26th. Piper Sandler decreased their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a "neutral" rating for the company in a research note on Wednesday, July 10th. Benchmark reissued a "buy" rating and issued a $83.00 target price on shares of Zoom Video Communications in a report on Monday, August 5th. Finally, Morgan Stanley cut their price target on Zoom Video Communications from $72.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $74.68.

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.