Sloy Dahl & Holst LLC Has $251,000 Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Sloy Dahl & Holst LLC lowered its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,497 shares of the company’s stock after selling 375 shares during the quarter. Sloy Dahl & Holst LLC’s holdings in Zoom Video Communications were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pearl River Capital LLC grew its position in shares of Zoom Video Communications by 31.6% in the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after purchasing an additional 8,928 shares during the last quarter. California Public Employees Retirement System lifted its stake in Zoom Video Communications by 3.4% during the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock worth $32,231,000 after purchasing an additional 14,945 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Zoom Video Communications by 15.9% during the third quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,826 shares during the last quarter. Vanguard Group Inc. lifted its stake in Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after purchasing an additional 1,000,005 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC lifted its stake in Zoom Video Communications by 25.4% during the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock worth $23,590,000 after purchasing an additional 66,433 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Zoom Video Communications in a research note on Tuesday, March 26th. Piper Sandler upped their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Wells Fargo & Company cut Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 target price for the company. in a research note on Wednesday, December 20th. Mizuho cut their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.05 on Wednesday, reaching $59.33. The company had a trading volume of 313,622 shares, compared to its average volume of 3,306,453. The firm has a market cap of $18.25 billion, a price-to-earnings ratio of 29.06 and a beta of -0.07. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The business has a 50 day moving average of $65.12 and a two-hundred day moving average of $66.12.

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

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 19,207 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $67.00, for a total transaction of $1,286,869.00. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $132,526. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 19,207 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $67.00, for a total transaction of $1,286,869.00. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $132,526. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,456 shares of company stock worth $5,539,710. Company insiders own 11.28% of the company’s stock.

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.