Maryland State Retirement & Pension System Has $1.42 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Maryland State Retirement & Pension System raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 19,787 shares of the company’s stock after acquiring an additional 915 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Zoom Video Communications were worth $1,423,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Xponance Inc. raised its position in shares of Zoom Video Communications by 2.0% in the 4th quarter. Xponance Inc. now owns 9,279 shares of the company’s stock valued at $667,000 after acquiring an additional 179 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Zoom Video Communications by 3.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,528 shares of the company’s stock worth $457,000 after purchasing an additional 200 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Zoom Video Communications by 0.8% in the 3rd quarter. Amalgamated Bank now owns 24,850 shares of the company’s stock valued at $1,738,000 after buying an additional 205 shares during the period. Excalibur Management Corp increased its position in shares of Zoom Video Communications by 6.8% in the 3rd quarter. Excalibur Management Corp now owns 4,083 shares of the company’s stock valued at $286,000 after buying an additional 259 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Zoom Video Communications by 101.4% during the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after buying an additional 282 shares during the period. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Mizuho lowered their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Rosenblatt Securities raised shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, April 18th. Piper Sandler increased their price objective on shares of 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, JPMorgan Chase & Co. cut their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.56.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the completion of the sale, the chief executive officer now owns 95,140 shares of the company’s stock, valued at approximately $5,896,777.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the completion of the sale, the chief executive officer now directly owns 95,140 shares in the company, valued at $5,896,777.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,067 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $65.88, for a total value of $136,173.96. Following the completion of the transaction, the director now directly owns 157,626 shares in the company, valued at approximately $10,384,400.88. The disclosure for this sale can be found here. Insiders have sold 98,230 shares of company stock worth $6,175,032 over the last 90 days. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 1.5 %

NASDAQ:ZM opened at $61.23 on Thursday. The stock has a market capitalization of $18.83 billion, a PE ratio of 30.01 and a beta of -0.05. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90. The firm has a fifty day simple moving average of $64.43 and a 200 day simple moving average of $65.74.

Zoom Video Communications (NASDAQ:ZM) last released 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. On average, equities analysts predict 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.