Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Illinois Municipal Retirement Fund


Share on StockTwits

Illinois Municipal Retirement Fund reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 19.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,688 shares of the company’s stock after selling 2,063 shares during the period. Illinois Municipal Retirement Fund’s holdings in Zoom Video Communications were worth $2,791,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC bought a new stake in shares of Zoom Video Communications during the third quarter valued at approximately $6,729,000. Brinker Capital Investments LLC bought a new position in Zoom Video Communications during the 3rd quarter valued at $1,388,000. Mercer Global Advisors Inc. ADV increased its position in shares of Zoom Video Communications by 129.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 4,756 shares of the company’s stock valued at $2,236,000 after purchasing an additional 2,687 shares during the period. Strs Ohio raised its stake in shares of Zoom Video Communications by 188.2% in the 3rd quarter. Strs Ohio now owns 45,203 shares of the company’s stock worth $21,250,000 after buying an additional 29,518 shares in the last quarter. Finally, Raub Brock Capital Management LP acquired a new position in Zoom Video Communications during the fourth quarter worth about $226,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

NASDAQ:ZM opened at $313.92 on Tuesday. The company has a market cap of $92.20 billion, a P/E ratio of 402.46, a price-to-earnings-growth ratio of 12.42 and a beta of -1.46. Zoom Video Communications, Inc. has a twelve month low of $140.45 and a twelve month high of $588.84. The business has a 50 day moving average price of $326.99 and a two-hundred day moving average price of $389.08.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Sunday, February 28th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.79 by $0.43. The company had revenue of $882.49 million during the quarter, compared to the consensus estimate of $810.97 million. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The firm’s revenue for the quarter was up 368.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 1.83 EPS for the current year.

ZM has been the subject of several research reports. Daiwa Capital Markets assumed coverage on Zoom Video Communications in a research note on Wednesday, March 31st. They set a “sell” rating and a $250.00 price objective for the company. Piper Sandler upgraded shares of Zoom Video Communications from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $501.00 to $541.00 in a report on Monday, March 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Zoom Video Communications in a report on Thursday, April 1st. They issued a “hold” rating and a $360.00 target price for the company. Zacks Investment Research cut shares of Zoom Video Communications from a “buy” rating to a “hold” rating and set a $354.00 target price for the company. in a report on Monday, March 8th. Finally, Bank of America initiated coverage on shares of Zoom Video Communications in a report on Tuesday, April 20th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $428.81.

In other Zoom Video Communications news, Director Santiago Subotovsky sold 7,700 shares of the stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $345.45, for a total transaction of $2,659,965.00. Following the transaction, the director now owns 219,612 shares in the company, valued at approximately $75,864,965.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Scheinman sold 167,466 shares of the stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $363.68, for a total value of $60,904,034.88. Following the transaction, the director now owns 150,000 shares in the company, valued at approximately $54,552,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 414,388 shares of company stock worth $143,836,991. 24.25% of the stock is owned by company insiders.

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.

Recommended Story: Fundamental Analysis

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:ZM).

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.