Clarity Capital Partners LLC Trims Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Clarity Capital Partners LLC lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 38.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,700 shares of the company’s stock after selling 4,867 shares during the quarter. Clarity Capital Partners LLC’s holdings in Zoom Video Communications were worth $503,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after buying an additional 1,000,005 shares during the period. Galvin Gaustad & Stein LLC grew its position in shares of Zoom Video Communications by 25.4% during the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock worth $23,590,000 after purchasing an additional 66,433 shares in the last quarter. KBC Group NV grew its position in shares of Zoom Video Communications by 134.3% during the fourth quarter. KBC Group NV now owns 561,558 shares of the company’s stock worth $40,382,000 after purchasing an additional 321,921 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Zoom Video Communications by 556.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company’s stock worth $8,923,000 after purchasing an additional 105,173 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Zoom Video Communications by 353.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 32,017 shares of the company’s stock worth $2,302,000 after purchasing an additional 24,953 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity

In other news, CAO Shane Crehan sold 1,538 shares of the business’s stock in a transaction dated Sunday, June 9th. The stock was sold at an average price of $62.42, for a total value of $96,001.96. Following the completion of the transaction, the chief accounting officer now owns 1,475 shares of the company’s stock, valued at approximately $92,069.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Aparna Bawa sold 21,968 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $119,036.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Shane Crehan sold 1,538 shares of the company’s stock in a transaction dated Sunday, June 9th. The stock was sold at an average price of $62.42, for a total value of $96,001.96. Following the completion of the transaction, the chief accounting officer now directly owns 1,475 shares of the company’s stock, valued at approximately $92,069.50. The disclosure for this sale can be found here. Insiders sold a total of 135,272 shares of company stock valued at $7,981,517 in the last quarter. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Performance

ZM stock traded down $0.88 on Wednesday, hitting $56.00. 3,956,558 shares of the company’s stock were exchanged, compared to its average volume of 3,324,907. Zoom Video Communications, Inc. has a 12-month low of $55.63 and a 12-month high of $75.90. The firm has a 50 day moving average price of $60.63 and a two-hundred day moving average price of $64.01. The stock has a market cap of $17.32 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 8.81 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last posted its quarterly earnings results on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.23. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. Sell-side analysts expect that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ZM. Sanford C. Bernstein cut their price target on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Tuesday, May 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Morgan Stanley lowered their price objective on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Evercore ISI lowered their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, May 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Two 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.22.

Get Our Latest Report on Zoom Video Communications

Zoom Video Communications Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Video Communications, Inc. (NASDAQ:ZMFree Report).

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

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.