Zoom Video Communications, Inc. (NASDAQ:ZM) Position Reduced by Sei Investments Co.

Sei Investments Co. trimmed its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,389 shares of the company’s stock after selling 22,924 shares during the quarter. Sei Investments Co. owned approximately 0.06% of Zoom Video Communications worth $60,715,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZM. Prime Capital Investment Advisors LLC boosted its stake in Zoom Video Communications by 44.6% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 639 shares of the company’s stock valued at $216,000 after acquiring an additional 197 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Zoom Video Communications by 12.1% during the fourth quarter. CIBC Asset Management Inc now owns 30,590 shares of the company’s stock worth $10,319,000 after purchasing an additional 3,292 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Zoom Video Communications by 142.4% during the fourth quarter. GSA Capital Partners LLP now owns 2,693 shares of the company’s stock worth $908,000 after purchasing an additional 1,582 shares during the period. Steel Peak Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 620.6% during the fourth quarter. Steel Peak Wealth Management LLC now owns 6,403 shares of the company’s stock worth $2,160,000 after purchasing an additional 7,633 shares during the period. Finally, Bollard Group LLC raised its holdings in shares of Zoom Video Communications by 11.9% during the fourth quarter. Bollard Group LLC now owns 4,700 shares of the company’s stock worth $1,585,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NASDAQ:ZM opened at $346.50 on Friday. Zoom Video Communications, Inc. has a twelve month low of $216.75 and a twelve month high of $588.84. The firm’s 50-day simple moving average is $321.51. The company has a market cap of $101.77 billion, a price-to-earnings ratio of 154.00, a price-to-earnings-growth ratio of 10.01 and a beta of -1.49.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, May 31st. The company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.33. Zoom Video Communications had a net margin of 25.34% and a return on equity of 37.79%. The company had revenue of $956.24 million during the quarter, compared to analyst estimates of $908.17 million. During the same quarter last year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 191.4% on a year-over-year basis. Equities analysts forecast that Zoom Video Communications, Inc. will post 2.22 earnings per share for the current year.

A number of analysts have weighed in on ZM shares. Piper Sandler dropped their target price on shares of Zoom Video Communications from $541.00 to $464.00 and set an “overweight” rating on the stock in a report on Wednesday, June 2nd. Morgan Stanley increased their target price on shares of Zoom Video Communications from $390.00 to $420.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zoom Video Communications from $360.00 to $375.00 and gave the stock a “hold” rating in a report on Wednesday, June 2nd. Mizuho dropped their price objective on shares of Zoom Video Communications from $550.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, May 14th. Finally, Daiwa Capital Markets initiated coverage on shares of Zoom Video Communications in a report on Wednesday, March 31st. They issued a “sell” rating and a $250.00 price objective on the stock. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $426.19.

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 6,700 shares of the firm’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $287.89, for a total value of $1,928,863.00. Following the completion of the transaction, the chief financial officer now directly owns 6,700 shares in the company, valued at $1,928,863. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Ryan Azus sold 3,454 shares of the firm’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $347.34, for a total transaction of $1,199,712.36. Following the completion of the transaction, the executive now owns 58,989 shares of the company’s stock, valued at $20,489,239.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,201 shares of company stock valued at $43,528,954. Corporate insiders own 12.27% of the company’s stock.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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