Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Commerce Bank

Commerce Bank decreased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 51.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,385 shares of the company’s stock after selling 2,563 shares during the period. Commerce Bank’s holdings in Zoom Video Communications were worth $624,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ZM. BI Asset Management Fondsmaeglerselskab A S raised its position in Zoom Video Communications by 91.9% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,819 shares of the company’s stock worth $476,000 after buying an additional 871 shares during the last quarter. Altman Advisors Inc. raised its position in Zoom Video Communications by 7.8% during the 3rd quarter. Altman Advisors Inc. now owns 4,694 shares of the company’s stock worth $1,289,000 after buying an additional 340 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in Zoom Video Communications by 10.0% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,801 shares of the company’s stock worth $3,086,000 after buying an additional 1,070 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Zoom Video Communications by 153.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 210 shares of the company’s stock worth $55,000 after buying an additional 127 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Zoom Video Communications by 8.5% during the 3rd quarter. Toronto Dominion Bank now owns 32,683 shares of the company’s stock worth $8,546,000 after buying an additional 2,553 shares during the last quarter. Institutional investors and hedge funds own 48.80% of the company’s stock.

Zoom Video Communications stock opened at $159.72 on Friday. The company has a market cap of $47.60 billion, a PE ratio of 42.48, a P/E/G ratio of 2.59 and a beta of -1.24. The company has a fifty day moving average price of $203.31 and a two-hundred day moving average price of $280.09. Zoom Video Communications, Inc. has a 12 month low of $156.88 and a 12 month high of $451.77.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, November 22nd. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Zoom Video Communications had a return on equity of 24.22% and a net margin of 29.28%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. On average, research analysts predict that Zoom Video Communications, Inc. will post 3.39 EPS for the current year.

In related news, Director Carl M. Eschenbach sold 184 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $285.00, for a total value of $52,440.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 15,625 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $260.32, for a total value of $4,067,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,059 shares of company stock worth $17,956,136. Company insiders own 12.27% of the company’s stock.

ZM has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Zoom Video Communications from a “neutral” rating to an “overweight” rating and set a $385.00 price objective for the company in a research report on Friday, October 22nd. Wolfe Research lowered their price target on shares of Zoom Video Communications from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 23rd. Daiwa Capital Markets raised shares of Zoom Video Communications from a “sell” rating to an “underperform” rating and set a $207.00 price target on the stock in a research note on Tuesday, November 30th. The Goldman Sachs Group initiated coverage on shares of Zoom Video Communications in a research note on Thursday, December 16th. They set a “neutral” rating and a $200.00 price target on the stock. Finally, KeyCorp lowered their price target on shares of Zoom Video Communications from $344.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $306.37.

Zoom Video Communications Profile

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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