Transcend Capital Advisors LLC Has $6.33 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Transcend Capital Advisors LLC cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,053 shares of the company’s stock after selling 52,412 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Zoom Video Communications were worth $6,332,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Zoom Video Communications by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after acquiring an additional 781,663 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Zoom Video Communications by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after acquiring an additional 216,768 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Zoom Video Communications by 36.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,826,433 shares of the company’s stock valued at $131,339,000 after acquiring an additional 487,796 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Zoom Video Communications by 639.9% during the third quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after acquiring an additional 1,408,908 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 21,968 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $119,036.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Aparna Bawa sold 21,968 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $119,036.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,224 shares of company stock worth $5,872,091. Corporate insiders own 11.28% of the company’s stock.

Zoom Video Communications Stock Up 1.6 %

Shares of ZM traded up $0.96 on Friday, hitting $62.00. The company’s stock had a trading volume of 2,801,169 shares, compared to its average volume of 2,752,088. The firm’s fifty day moving average price is $64.57 and its 200-day moving average price is $65.78. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 30.39 and a beta of -0.07.

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

Analyst Upgrades and Downgrades

ZM has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 27th. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a report on Thursday, January 18th. Piper Sandler lifted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. JPMorgan Chase & Co. cut their price target on 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 cut their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.56.

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.