Larson Financial Group LLC Reduces Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Larson Financial Group LLC lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 83.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 450 shares of the company’s stock after selling 2,265 shares during the quarter. Larson Financial Group LLC’s holdings in Zoom Video Communications were worth $32,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after buying an additional 1,000,005 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Zoom Video Communications by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after purchasing an additional 781,663 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Zoom Video Communications by 3.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after purchasing an additional 216,768 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Zoom Video Communications by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,826,433 shares of the company’s stock valued at $131,339,000 after purchasing an additional 487,796 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Zoom Video Communications by 639.9% in the third quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after purchasing an additional 1,408,908 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the subject of a number of research reports. BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a report on Thursday, January 18th. Piper Sandler boosted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. JPMorgan Chase & Co. lowered their price target on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Jefferies Financial Group initiated coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Finally, Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Trading Up 1.6 %

Shares of ZM stock opened at $62.00 on Friday. The business’s fifty day simple moving average is $64.57 and its 200-day simple moving average is $65.78. The company has a market cap of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07. Zoom Video Communications, Inc. has a 12-month low of $58.87 and a 12-month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The business 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 9.68% and a net margin of 14.08%. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 2,421 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $63.69, for a total transaction of $154,193.49. Following the transaction, the chief executive officer now directly owns 90,001 shares of the company’s stock, valued at $5,732,163.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 2,421 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $63.69, for a total transaction of $154,193.49. Following the sale, the chief executive officer now directly owns 90,001 shares in the company, valued at $5,732,163.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,224 shares of company stock valued at $5,872,091. Corporate insiders own 11.28% of the company’s stock.

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.