Versor Investments LP Sells 11,400 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Versor Investments LP lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 48.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,334 shares of the company's stock after selling 11,400 shares during the quarter. Versor Investments LP's holdings in Zoom Video Communications were worth $860,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Venturi Wealth Management LLC raised its position in shares of Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after purchasing an additional 274 shares during the period. TRU Independence Asset Management 2 LLC purchased a new position in shares of Zoom Video Communications in the third quarter worth approximately $329,000. Crossmark Global Holdings Inc. acquired a new stake in Zoom Video Communications during the 3rd quarter valued at $203,000. Baker Avenue Asset Management LP lifted its stake in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company's stock worth $1,994,000 after acquiring an additional 12,890 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Zoom Video Communications by 25.7% in the third quarter. Covestor Ltd now owns 4,769 shares of the company's stock worth $332,000 after purchasing an additional 974 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of the firm's 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 372,121 shares of company stock worth $27,095,467 over the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Trading Down 1.5 %

Shares of ZM stock traded down $1.28 during trading hours on Wednesday, hitting $85.04. 2,728,013 shares of the company were exchanged, compared to its average volume of 3,232,449. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $87.15. The business has a 50 day moving average of $71.14 and a two-hundred day moving average of $64.45. The company has a market capitalization of $26.17 billion, a PE ratio of 30.68, a PEG ratio of 7.44 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. Zoom Video Communications's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. On average, research analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on ZM shares. Wells Fargo & Company boosted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an "underweight" rating in a research report on Thursday, August 22nd. Stifel Nicolaus upped their price target on Zoom Video Communications from $65.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, October 10th. Bank of America dropped their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating on the stock in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, October 4th. Finally, Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an "outperform" rating and a $85.00 target price for the company. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $76.26.

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.