Resources Investment Advisors LLC. Sells 120 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Resources Investment Advisors LLC. trimmed its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 597 shares of the company’s stock after selling 120 shares during the period. Resources Investment Advisors LLC.’s holdings in Zoom Video Communications were worth $231,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Zoom Video Communications by 250.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,537,274 shares of the company’s stock worth $4,028,101,000 after buying an additional 8,964,122 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Zoom Video Communications by 214.4% during the 1st quarter. ARK Investment Management LLC now owns 3,002,347 shares of the company’s stock worth $964,624,000 after buying an additional 2,047,276 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Zoom Video Communications by 22.6% during the 1st quarter. Baillie Gifford & Co. now owns 8,100,660 shares of the company’s stock worth $2,602,661,000 after buying an additional 1,495,639 shares during the period. Jackson Square Partners LLC bought a new stake in shares of Zoom Video Communications during the 1st quarter worth $249,999,000. Finally, Soma Equity Partners LP bought a new stake in shares of Zoom Video Communications during the 1st quarter worth $208,839,000. 46.87% of the stock is owned by institutional investors.

Several research firms recently commented on ZM. Royal Bank of Canada set a $450.00 target price on shares of Zoom Video Communications in a research note on Tuesday, August 31st. Needham & Company LLC set a $361.97 price objective on shares of Zoom Video Communications and gave the company a “hold” rating in a research note on Monday, July 19th. UBS Group dropped their price objective on shares of Zoom Video Communications from $345.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, August 31st. Benchmark assumed coverage on shares of Zoom Video Communications in a research note on Thursday, July 15th. They issued a “hold” rating and a $360.61 price objective for the company. Finally, Piper Sandler dropped their price objective on shares of Zoom Video Communications from $464.00 to $369.00 and set an “overweight” rating for the company in a research note on Tuesday, August 31st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $399.75.

In related news, CRO Ryan Azus sold 12,256 shares of the business’s stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $400.14, for a total value of $4,904,115.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 9,531 shares of the business’s stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $384.30, for a total value of $3,662,763.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 280,540 shares of company stock valued at $103,423,668. Company insiders own 12.27% of the company’s stock.

Shares of ZM stock opened at $281.44 on Wednesday. The company has a market capitalization of $83.62 billion, a P/E ratio of 85.03, a price-to-earnings-growth ratio of 5.49 and a beta of -1.53. The company’s 50 day moving average price is $348.32 and its two-hundred day moving average price is $340.43. Zoom Video Communications, Inc. has a 52 week low of $273.20 and a 52 week high of $588.84.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Sunday, August 29th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.16 by $0.20. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $990.27 million. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 54.0% on a year-over-year basis. On average, sell-side analysts forecast that Zoom Video Communications, Inc. will post 3.3 earnings per share for the current year.

About Zoom Video Communications

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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