Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 448,440 shares of the company’s stock after selling 12,396 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of Zoom Video Communications worth $32,247,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ZM. Acadian Asset Management LLC raised its stake in Zoom Video Communications by 639.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after purchasing an additional 1,408,908 shares during the last quarter. Vanguard Group Inc. raised its stake in Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares during the last quarter. ARK Investment Management LLC grew its holdings in Zoom Video Communications by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after buying an additional 781,663 shares during the period. International Assets Investment Management LLC grew its holdings in Zoom Video Communications by 5,787.2% in the 4th quarter. International Assets Investment Management LLC now owns 583,190 shares of the company’s stock valued at $41,937,000 after buying an additional 573,284 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Zoom Video Communications by 36.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,826,433 shares of the company’s stock valued at $131,339,000 after buying an additional 487,796 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $62.00 on Friday. The stock’s 50 day moving average price is $64.57 and its 200 day moving average price is $65.78. The firm has a market capitalization of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07. Zoom Video Communications, Inc. has a one year low of $58.87 and a one year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, analysts forecast that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler lifted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. JPMorgan Chase & Co. lowered their price target on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, April 18th. Mizuho lowered their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, Jefferies Financial Group started coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus price target of $77.56.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the sale, the insider now directly owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total value of $297,215.52. The disclosure for this sale can be found here. Insiders have sold a total of 93,224 shares of company stock valued at $5,872,091 in the last three months. Corporate insiders own 11.28% of the company’s stock.

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.