Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Holdings Lowered by Independent Advisor Alliance

Independent Advisor Alliance lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 16.7% in the 4th quarter, Holdings Channel reports. The fund owned 3,151 shares of the company’s stock after selling 631 shares during the period. Independent Advisor Alliance’s holdings in Zoom Video Communications were worth $227,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ZM. Principal Securities Inc. acquired a new stake in Zoom Video Communications in the fourth quarter worth about $25,000. Quadrant Capital Group LLC lifted its holdings in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the period. AM Squared Ltd acquired a new stake in Zoom Video Communications in the third quarter worth about $28,000. Allworth Financial LP lifted its holdings in Zoom Video Communications by 101.4% in the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in Zoom Video Communications in the fourth quarter worth about $43,000. Institutional investors own 66.54% of the company’s stock.

Insider Activity

In other news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is accessible through this link. In other news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 27,963 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the transaction, the chief executive officer now owns 95,140 shares in the company, valued at approximately $5,896,777.20. The disclosure for this sale can be found here. Insiders have sold 101,170 shares of company stock worth $6,356,101 in the last 90 days. Company insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ZM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday. Evercore ISI cut their price target on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday. Citigroup upped their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Sanford C. Bernstein cut their price target on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.67.

Zoom Video Communications Trading Up 0.8 %

NASDAQ ZM opened at $64.38 on Thursday. The stock’s 50-day moving average price is $63.21 and its two-hundred day moving average price is $65.90. The company has a market cap of $19.80 billion, a PE ratio of 24.02 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 10.84% and a net margin of 18.37%. Research analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Zoom Video Communications 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.