OPSEU Pension Plan Trust Fund Decreases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Share on StockTwits

OPSEU Pension Plan Trust Fund lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 19.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,911 shares of the company’s stock after selling 720 shares during the period. OPSEU Pension Plan Trust Fund’s holdings in Zoom Video Communications were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in Zoom Video Communications by 1.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,889 shares of the company’s stock valued at $888,000 after buying an additional 20 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Zoom Video Communications by 6.6% in the third quarter. Apollon Wealth Management LLC now owns 486 shares of the company’s stock worth $228,000 after acquiring an additional 30 shares during the period. Regent Peak Wealth Advisors LLC lifted its stake in shares of Zoom Video Communications by 3.4% in the third quarter. Regent Peak Wealth Advisors LLC now owns 1,000 shares of the company’s stock worth $470,000 after acquiring an additional 33 shares during the period. Larson Financial Group LLC lifted its stake in shares of Zoom Video Communications by 23.7% in the third quarter. Larson Financial Group LLC now owns 188 shares of the company’s stock worth $88,000 after acquiring an additional 36 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Zoom Video Communications by 12.6% in the third quarter. Allworth Financial LP now owns 339 shares of the company’s stock worth $159,000 after acquiring an additional 38 shares during the period. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

ZM has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on Zoom Video Communications from $440.00 to $540.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. BTIG Research lifted their price objective on Zoom Video Communications from $500.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. BidaskClub lowered Zoom Video Communications from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Morgan Stanley lifted their price objective on Zoom Video Communications from $240.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. Finally, The Goldman Sachs Group upgraded Zoom Video Communications from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $187.00 to $402.00 in a report on Tuesday, September 1st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $415.56.

In other Zoom Video Communications news, COO Aparna Bawa sold 7,500 shares of Zoom Video Communications stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $472.00, for a total value of $3,540,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bart Swanson sold 2,000 shares of Zoom Video Communications stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $462.53, for a total value of $925,060.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $925,060. The disclosure for this sale can be found here. In the last three months, insiders sold 233,375 shares of company stock valued at $105,729,304. Corporate insiders own 24.25% of the company’s stock.

NASDAQ ZM traded down $0.08 on Tuesday, hitting $399.07. The company’s stock had a trading volume of 103,300 shares, compared to its average volume of 10,444,426. Zoom Video Communications, Inc. has a 52-week low of $62.02 and a 52-week high of $588.84. The company’s 50-day simple moving average is $486.57 and its 200 day simple moving average is $319.03. The firm has a market cap of $113.53 billion, a P/E ratio of 511.73, a PEG ratio of 12.42 and a beta of -1.46.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, August 31st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.47. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The business had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $500.37 million. During the same quarter last year, the business posted $0.08 EPS. The business’s revenue was up 354.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 1.83 earnings per share for the current fiscal year.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company's product portfolio includes 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 sharing messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

Further Reading: What is a support level?

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Video Communications, Inc. (NASDAQ:ZM).

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

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply