Zoom Video Communications, Inc. (NASDAQ:ZM) Position Lessened by Malaga Cove Capital LLC

Malaga Cove Capital LLC lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,232 shares of the company’s stock after selling 2,443 shares during the quarter. Malaga Cove Capital LLC’s holdings in Zoom Video Communications were worth $808,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Pearl River Capital LLC raised its holdings in shares of Zoom Video Communications by 31.6% during the 3rd quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after purchasing an additional 8,928 shares in the last quarter. California Public Employees Retirement System lifted its position 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 buying an additional 14,945 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Zoom Video Communications by 15.9% during 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. Vanguard Group Inc. increased its holdings in shares of Zoom Video Communications by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after acquiring an additional 1,000,005 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC raised its stake in shares of Zoom Video Communications by 25.4% in the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after acquiring an additional 66,433 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now owns 71,956 shares in the company, valued at approximately $5,036,920. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,067 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $65.88, for a total transaction of $136,173.96. Following the completion of the sale, the director now directly owns 157,626 shares of the company’s stock, valued at approximately $10,384,400.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 1,553 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the transaction, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The disclosure for this sale can be found here. Insiders sold 98,231 shares of company stock valued at $6,179,621 in the last three months. Corporate insiders own 11.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ZM shares. Jefferies Financial Group started coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price for the company. BNP Paribas lowered shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research note on Thursday, January 18th. Rosenblatt Securities upgraded shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, April 18th. JPMorgan Chase & Co. decreased their price target on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Finally, Mizuho dropped their price objective on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.56.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded down $1.01 on Friday, hitting $61.82. The stock had a trading volume of 3,041,928 shares, compared to its average volume of 2,863,555. The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of 30.30 and a beta of -0.05. The firm’s 50 day moving average price is $64.58 and its 200-day moving average price is $65.71. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. As a group, sell-side analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

About Zoom Video Communications

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.