Los Angeles Capital Management LLC Lowers Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Los Angeles Capital Management LLC lessened its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,705 shares of the company’s stock after selling 38,952 shares during the period. Los Angeles Capital Management LLC owned approximately 0.06% of Zoom Video Communications worth $12,491,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ZM. Xponance Inc. lifted its holdings in shares of Zoom Video Communications by 2.0% in the 4th quarter. Xponance Inc. now owns 9,279 shares of the company’s stock worth $667,000 after acquiring an additional 179 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Zoom Video Communications by 3.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,528 shares of the company’s stock worth $457,000 after purchasing an additional 200 shares during the last quarter. Amalgamated Bank boosted its position in Zoom Video Communications by 0.8% during the third quarter. Amalgamated Bank now owns 24,850 shares of the company’s stock valued at $1,738,000 after buying an additional 205 shares during the period. Excalibur Management Corp grew its stake in shares of Zoom Video Communications by 6.8% during the third quarter. Excalibur Management Corp now owns 4,083 shares of the company’s stock valued at $286,000 after buying an additional 259 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of 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 buying an additional 282 shares during the period. Institutional investors own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. In other news, CAO Shane Crehan sold 1,931 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $135,170.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 $5,036,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,231 shares of company stock worth $6,179,621. Corporate insiders own 11.28% of the company’s stock.

Zoom Video Communications Stock Down 1.6 %

Shares of Zoom Video Communications stock opened at $61.82 on Friday. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90. The company’s 50 day moving average is $64.58 and its 200 day moving average is $65.71. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 30.30 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (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 business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ZM shares. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price target for the company. BNP Paribas lowered shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a report on Thursday, January 18th. Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Zoom Video Communications 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 objective for the company in a report on Thursday, April 18th. Finally, Mizuho decreased their target price 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. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Company 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.