State Board of Administration of Florida Retirement System Acquires 3,840 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

State Board of Administration of Florida Retirement System raised its position in Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 1.3% during the third quarter, HoldingsChannel.com reports. The firm owned 291,757 shares of the company’s stock after purchasing an additional 3,840 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Zoom Video Communications were worth $20,405,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in shares of Zoom Video Communications by 3.4% in the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock worth $32,231,000 after purchasing an additional 14,945 shares during the last quarter. CIBC Asset Management Inc grew its stake in Zoom Video Communications by 15.9% in the 3rd quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,826 shares in the last quarter. Invenomic Capital Management LP increased its position in shares of Zoom Video Communications by 63.0% during the second quarter. Invenomic Capital Management LP now owns 586,959 shares of the company’s stock worth $39,843,000 after acquiring an additional 226,832 shares during the period. BlackRock Inc. raised its stake in shares of Zoom Video Communications by 4.5% during the second quarter. BlackRock Inc. now owns 13,418,767 shares of the company’s stock valued at $910,866,000 after acquiring an additional 581,711 shares in the last quarter. Finally, GTS Securities LLC bought a new stake in Zoom Video Communications during the 2nd quarter valued at $10,352,000. Institutional investors own 54.85% of the company’s stock.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 2,421 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the completion of the transaction, the chief executive officer now directly owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,421 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $63.69, for a total value of $154,193.49. Following the transaction, the chief executive officer now directly owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 19,207 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $67.00, for a total value of $1,286,869.00. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $132,526. The disclosure for this sale can be found here. Insiders sold 96,830 shares of company stock valued at $6,580,907 over the last quarter. 11.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZM has been the topic of a number of research reports. Barclays cut their target price on shares of Zoom Video Communications from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 21st. Piper Sandler upped their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a research report on Thursday, January 18th. Benchmark reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a report on Tuesday, November 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $70.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $79.00.

View Our Latest Stock Report on Zoom Video Communications

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $65.70 on Friday. The company’s fifty day moving average price is $69.18 and its 200 day moving average price is $67.53. The stock has a market capitalization of $20.00 billion, a P/E ratio of 90.00, a P/E/G ratio of 1.07 and a beta of -0.08. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $80.80.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last released its earnings results on Monday, November 20th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.21. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Zoom Video Communications had a net margin of 5.21% and a return on equity of 4.93%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. Sell-side analysts predict that Zoom Video Communications, Inc. will post 2.1 EPS for the current year.

Zoom Video Communications Company 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.

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

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