New York State Common Retirement Fund Has $12.68 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

New York State Common Retirement Fund lessened its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,425 shares of the company’s stock after selling 10,700 shares during the period. New York State Common Retirement Fund owned 0.05% of Zoom Video Communications worth $12,684,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ZM. FMR LLC boosted its position in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. State Street Corp lifted its stake in shares of Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after buying an additional 134,559 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after buying an additional 233,241 shares during the period. Geode Capital Management LLC grew its stake in Zoom Video Communications by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after buying an additional 184,518 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock worth $101,032,000 after acquiring an additional 128,800 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $81.10 on Tuesday. The stock’s fifty day simple moving average is $83.13 and its 200 day simple moving average is $76.55. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a market cap of $24.86 billion and a price-to-earnings ratio of 27.03.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, February 24th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. On average, research analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZM. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price target for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. UBS Group lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Mizuho boosted their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $89.48.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the transaction, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is currently owned by insiders.

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.