Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 29.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,843 shares of the company's stock after selling 7,082 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Zoom Video Communications were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ZM. GSA Capital Partners LLP purchased a new position in shares of Zoom Video Communications in the third quarter valued at $712,000. Venturi Wealth Management LLC grew its position in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after acquiring an additional 274 shares in the last quarter. TRU Independence Asset Management 2 LLC bought a new stake in Zoom Video Communications during the third quarter worth approximately $329,000. Crossmark Global Holdings Inc. bought a new position in Zoom Video Communications during the 3rd quarter valued at about $203,000. Finally, Baker Avenue Asset Management LP grew its holdings in Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company's stock valued at $1,994,000 after purchasing an additional 12,890 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Down 1.5 %

Shares of ZM traded down $1.28 during midday trading on Wednesday, reaching $85.04. The company had a trading volume of 2,728,013 shares, compared to its average volume of 3,232,449. The firm has a 50 day simple moving average of $71.14 and a 200-day simple moving average of $64.45. The stock has a market cap of $26.17 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 7.44 and a beta of -0.05. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $87.15.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating 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 company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.15 billion. Zoom Video Communications's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. As a group, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,121.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at approximately $131,121.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the sale, the insider now directly owns 94,000 shares in the company, valued at $6,285,780. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 372,121 shares of company stock worth $27,095,467. 10.78% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ZM. Benchmark upped their target price on Zoom Video Communications from $83.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Rosenblatt Securities reissued a "buy" rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, October 4th. Stifel Nicolaus raised 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 issued a $95.00 price target on shares of Zoom Video Communications in a report on Thursday, October 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Friday, October 11th. 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 company's stock. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and a consensus price target of $76.26.

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.