Toronto Dominion Bank Reduces Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Toronto Dominion Bank decreased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,792 shares of the company’s stock after selling 5,883 shares during the period. Toronto Dominion Bank’s holdings in Zoom Video Communications were worth $9,251,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Zoom Video Communications by 20.2% during the 4th quarter. BlackRock Inc. now owns 10,716,200 shares of the company’s stock worth $3,614,789,000 after purchasing an additional 1,804,237 shares during the period. Baillie Gifford & Co. boosted its position 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 purchasing an additional 1,495,639 shares during the period. Jennison Associates LLC boosted its position in shares of Zoom Video Communications by 44,853.3% during the 4th quarter. Jennison Associates LLC now owns 1,354,892 shares of the company’s stock worth $457,032,000 after purchasing an additional 1,351,878 shares during the period. Norges Bank purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $455,786,000. Finally, Board of Trustees of The Leland Stanford Junior University purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $281,451,000. 42.43% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications stock opened at $346.50 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $216.75 and a fifty-two week high of $588.84. The stock has a market cap of $101.77 billion, a P/E ratio of 154.00, a P/E/G ratio of 10.01 and a beta of -1.49. The firm has a 50-day moving average price of $321.51.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, May 31st. The company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.33. Zoom Video Communications had a return on equity of 37.79% and a net margin of 25.34%. The business had revenue of $956.24 million during the quarter, compared to the consensus estimate of $908.17 million. During the same period in the previous year, the business earned $0.20 EPS. The business’s quarterly revenue was up 191.4% on a year-over-year basis. As a group, equities research analysts predict that Zoom Video Communications, Inc. will post 2.22 earnings per share for the current year.

In other Zoom Video Communications news, CEO Eric S. Yuan sold 15,625 shares of the company’s stock in a transaction that occurred on Wednesday, April 21st. The stock was sold at an average price of $319.90, for a total transaction of $4,998,437.50. Following the completion of the sale, the chief executive officer now directly owns 11,545 shares of the company’s stock, valued at approximately $3,693,245.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly Steckelberg sold 6,700 shares of the business’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $287.89, for a total value of $1,928,863.00. Following the transaction, the chief financial officer now owns 6,700 shares in the company, valued at approximately $1,928,863. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,201 shares of company stock valued at $43,528,954. 12.27% of the stock is owned by company insiders.

ZM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zoom Video Communications from $360.00 to $375.00 and gave the stock a “hold” rating in a research report on Wednesday, June 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of Zoom Video Communications from $362.00 to $380.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 2nd. Morgan Stanley increased their target price on shares of Zoom Video Communications from $390.00 to $420.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 2nd. Piper Sandler reduced their target price on shares of Zoom Video Communications from $541.00 to $464.00 and set an “overweight” rating on the stock in a report on Wednesday, June 2nd. Finally, Bank of America started coverage on shares of Zoom Video Communications in a report on Tuesday, April 20th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $426.19.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

Read More: Quiet Period

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.