Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Oak Thistle LLC

Oak Thistle LLC trimmed its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 53.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,187 shares of the company’s stock after selling 4,855 shares during the quarter. Oak Thistle LLC’s holdings in Zoom Video Communications were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ZM. Principal Securities Inc. acquired a new stake in Zoom Video Communications during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC raised its stake in shares of Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after buying an additional 267 shares in the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $32,000. Rakuten Securities Inc. purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $43,000. Finally, GAMMA Investing LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $48,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the sale, the chief executive officer now owns 95,140 shares in the company, valued at $5,896,777.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Aparna Bawa sold 21,968 shares of Zoom Video Communications stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $119,036.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 27,963 shares of Zoom Video Communications stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the transaction, the chief executive officer now owns 95,140 shares in the company, valued at approximately $5,896,777.20. The disclosure for this sale can be found here. Insiders have sold 108,100 shares of company stock worth $6,644,293 over the last quarter. 10.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZM has been the subject of a number of analyst reports. Rosenblatt Securities increased their target price on Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Citigroup increased their target price on Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Robert W. Baird cut their target price on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Wells Fargo & Company dropped their price objective on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, June 21st. Finally, Evercore ISI dropped their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $75.44.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded up $0.02 during mid-day trading on Monday, hitting $59.21. 1,867,779 shares of the company were exchanged, compared to its average volume of 3,355,286. Zoom Video Communications, Inc. has a 12-month low of $55.63 and a 12-month high of $75.90. The business’s 50 day simple moving average is $61.20 and its two-hundred day simple moving average is $64.73. The company has a market capitalization of $18.31 billion, a P/E ratio of 22.09, a PEG ratio of 9.09 and a beta of -0.01.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Equities research analysts predict that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

Zoom Video Communications Company 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.