Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Ceeto Capital Group LLC

Ceeto Capital Group LLC cut its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 58.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,450 shares of the company’s stock after selling 2,000 shares during the period. Ceeto Capital Group LLC’s holdings in Zoom Video Communications were worth $95,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Principal Securities Inc. purchased a new stake in Zoom Video Communications in the fourth quarter valued at $25,000. Quadrant Capital Group LLC grew its holdings in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Frazier Financial Advisors LLC purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $32,000. Rakuten Securities Inc. acquired a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $43,000. Finally, GAMMA Investing LLC acquired a new stake in Zoom Video Communications in the 4th quarter valued at $48,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Trading Up 0.8 %

NASDAQ:ZM traded up $0.48 during trading hours on Friday, hitting $60.09. The company’s stock had a trading volume of 1,906,443 shares, compared to its average volume of 2,551,115. Zoom Video Communications, Inc. has a 52-week low of $55.63 and a 52-week high of $75.90. The stock has a market capitalization of $18.58 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 9.22 and a beta of -0.05. The stock has a fifty day moving average of $59.70 and a 200-day moving average of $63.00.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, May 20th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research note on Tuesday, May 21st. Wells Fargo & Company decreased their target price on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, June 21st. Robert W. Baird dropped their price target on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Sanford C. Bernstein lowered their target price on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 21st. Finally, Piper Sandler dropped their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.22.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 874 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total value of $53,995.72. Following the completion of the transaction, the chief operating officer now owns 2,814 shares in the company, valued at $173,848.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 874 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $61.78, for a total value of $53,995.72. Following the completion of the sale, the chief operating officer now owns 2,814 shares in the company, valued at $173,848.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Shane Crehan sold 1,475 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $62.99, for a total value of $92,910.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,636 shares of company stock worth $7,242,839. 10.78% of the stock is currently owned by insiders.

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.