Gateway Investment Advisers LLC Reduces Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Gateway Investment Advisers LLC lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 30.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 28,794 shares of the company’s stock after selling 12,397 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Zoom Video Communications were worth $3,109,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ZM. American International Group Inc. boosted its position in shares of Zoom Video Communications by 3.5% during the fourth quarter. American International Group Inc. now owns 15,606 shares of the company’s stock valued at $2,870,000 after buying an additional 526 shares during the period. Invesco Ltd. boosted its position in shares of Zoom Video Communications by 15.3% during the fourth quarter. Invesco Ltd. now owns 396,640 shares of the company’s stock valued at $72,946,000 after buying an additional 52,692 shares during the period. Gotham Asset Management LLC boosted its position in shares of Zoom Video Communications by 340.8% during the fourth quarter. Gotham Asset Management LLC now owns 15,239 shares of the company’s stock valued at $2,803,000 after buying an additional 11,782 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Zoom Video Communications by 5.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 9,516 shares of the company’s stock valued at $1,749,000 after purchasing an additional 487 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $690,000. Hedge funds and other institutional investors own 52.86% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $116.62, for a total transaction of $233,240.00. Following the sale, the chief operating officer now owns 77,676 shares of the company’s stock, valued at approximately $9,058,575.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kelly Steckelberg sold 6,700 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $105.46, for a total value of $706,582.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $116.62, for a total value of $233,240.00. Following the completion of the sale, the chief operating officer now directly owns 77,676 shares in the company, valued at $9,058,575.12. The disclosure for this sale can be found here. Insiders have sold 32,823 shares of company stock worth $3,526,086 over the last quarter. 11.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on ZM shares. Royal Bank of Canada lowered their price target on Zoom Video Communications from $150.00 to $130.00 in a report on Tuesday, August 23rd. The Goldman Sachs Group lowered their price target on Zoom Video Communications from $142.00 to $122.00 and set a “neutral” rating for the company in a report on Tuesday, August 23rd. BTIG Research lowered Zoom Video Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, August 23rd. KeyCorp assumed coverage on Zoom Video Communications in a report on Monday, September 12th. They issued a “sector weight” rating for the company. Finally, Morgan Stanley reduced their price objective on shares of Zoom Video Communications from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $137.80.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $74.54 on Friday. The stock’s fifty day moving average price is $94.49 and its 200 day moving average price is $103.06. Zoom Video Communications, Inc. has a 1 year low of $74.33 and a 1 year high of $291.31. The company has a market cap of $22.19 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 4.18 and a beta of -0.49.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its earnings results on Monday, August 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a return on equity of 11.87% and a net margin of 23.05%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. Research analysts expect that Zoom Video Communications, Inc. will post 1.3 earnings per share for the current year.

Zoom Video Communications Company Profile

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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.

See Also

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

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