Zoom Video Communications, Inc. (NASDAQ:ZM) Holdings Decreased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,809 shares of the company’s stock after selling 4,248 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Zoom Video Communications were worth $7,667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lake Point Wealth Management purchased a new position in Zoom Video Communications in the second quarter valued at about $28,000. Clearstead Advisors LLC lifted its position in shares of Zoom Video Communications by 213.3% in the second quarter. Clearstead Advisors LLC now owns 94 shares of the company’s stock worth $36,000 after buying an additional 64 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Zoom Video Communications in the first quarter worth about $32,000. Reilly Financial Advisors LLC lifted its position in shares of Zoom Video Communications by 55.4% in the second quarter. Reilly Financial Advisors LLC now owns 101 shares of the company’s stock worth $39,000 after buying an additional 36 shares during the last quarter. Finally, Albion Financial Group UT acquired a new stake in shares of Zoom Video Communications in the second quarter worth about $39,000. Hedge funds and other institutional investors own 46.87% of the company’s stock.

ZM has been the subject of a number of analyst reports. BTIG Research reduced their price target on Zoom Video Communications from $495.00 to $460.00 and set a “buy” rating for the company in a research report on Tuesday, August 31st. Deutsche Bank Aktiengesellschaft reduced their price target on Zoom Video Communications from $375.00 to $350.00 and set a “hold” rating for the company in a research report on Tuesday, August 31st. Wolfe Research reissued a “buy” rating and set a $375.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, September 14th. Benchmark started coverage on Zoom Video Communications in a research report on Thursday, July 15th. They set a “hold” rating and a $360.61 price objective for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 1st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $397.83.

In other news, insider Velchamy Sankarlingam sold 2,354 shares of the stock in a transaction on Tuesday, October 12th. The stock was sold at an average price of $255.27, for a total value of $600,905.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 7,700 shares of the stock in a transaction on Thursday, July 22nd. The shares were sold at an average price of $362.09, for a total value of $2,788,093.00. Following the completion of the transaction, the director now directly owns 188,543 shares in the company, valued at approximately $68,269,534.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,554 shares of company stock worth $61,568,029. Company insiders own 12.27% of the company’s stock.

NASDAQ ZM opened at $266.24 on Thursday. The firm has a market cap of $79.11 billion, a PE ratio of 80.44, a price-to-earnings-growth ratio of 5.49 and a beta of -1.53. Zoom Video Communications, Inc. has a one year low of $250.11 and a one year high of $588.84. The stock’s 50 day simple moving average is $304.21 and its 200 day simple moving average is $329.88.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Sunday, August 29th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.20. Zoom Video Communications had a return on equity of 29.83% and a net margin of 27.58%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $990.27 million. During the same quarter in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was up 54.0% compared to the same quarter last year. On average, research analysts anticipate that Zoom Video Communications, Inc. will post 3.3 earnings per share for the current year.

Zoom Video Communications Profile

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

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

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