Signaturefd LLC Decreases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Signaturefd LLC reduced its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,966 shares of the company’s stock after selling 833 shares during the period. Signaturefd LLC’s holdings in Zoom Video Communications were worth $213,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. abrdn plc increased its holdings in shares of Zoom Video Communications by 103.9% in the fourth quarter. abrdn plc now owns 90,119 shares of the company’s stock worth $6,480,000 after buying an additional 45,912 shares during the period. Xponance Inc. increased its stake in 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 purchasing an additional 179 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Zoom Video Communications by 134.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock valued at $51,000 after purchasing an additional 404 shares during the last quarter. AM Squared Ltd boosted its stake in shares of Zoom Video Communications by 325.0% during the fourth quarter. AM Squared Ltd now owns 1,700 shares of the company’s stock valued at $122,000 after purchasing an additional 1,300 shares during the period. Finally, Rakuten Securities Inc. bought a new position in shares of Zoom Video Communications in the fourth quarter worth approximately $43,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the sale, the insider now owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Velchamy Sankarlingam sold 1,553 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the sale, the insider now owns 71,956 shares in the company, valued at $5,036,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 21,968 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $119,036.04. The disclosure for this sale can be found here. Insiders have sold a total of 93,224 shares of company stock worth $5,872,091 over the last 90 days. 11.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ZM shares. Rosenblatt Securities upgraded shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, April 18th. Jefferies Financial Group assumed coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price on the stock. Mizuho lowered their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Piper Sandler lifted their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Finally, BNP Paribas downgraded 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications Stock Up 1.6 %

ZM stock opened at $62.00 on Friday. The business has a 50 day moving average of $64.57 and a 200 day moving average of $65.77. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90. The firm has a market cap of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly 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 firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, research analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.

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.