Transcend Capital Advisors LLC Sells 52,412 Shares of 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% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 institutional investors and hedge funds have also bought and sold shares of the company. AM Squared Ltd bought a new stake in shares of Zoom Video Communications in the third quarter worth about $28,000. Allworth Financial LP increased its holdings in shares of Zoom Video Communications by 101.4% in the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Zoom Video Communications in the fourth quarter worth about $43,000. GAMMA Investing LLC bought a new stake in shares of Zoom Video Communications in the fourth quarter worth about $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Zoom Video Communications by 134.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock worth $51,000 after purchasing an additional 404 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZM. Jefferies Financial Group initiated coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price on the stock. Piper Sandler increased 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. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research note on Thursday, January 18th. Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Finally, Mizuho dropped their price objective on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.96 during midday trading on Friday, hitting $62.00. 2,801,169 shares of the company traded hands, compared to its average volume of 2,752,088. The company has a market cap of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07. The company’s 50-day simple moving average is $64.57 and its 200-day simple moving average is $65.78. Zoom Video Communications, Inc. has a 52 week low of $58.87 and a 52 week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. On average, research analysts predict that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Insider Activity

In other news, COO Aparna Bawa sold 816 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,734.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Aparna Bawa sold 816 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,734.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 2,421 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $63.69, for a total value of $154,193.49. Following the sale, the chief executive officer now owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,224 shares of company stock worth $5,872,091. 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.