Bristlecone Advisors LLC Sells 2,883 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Bristlecone Advisors LLC lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 36.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,992 shares of the company’s stock after selling 2,883 shares during the period. Bristlecone Advisors LLC’s holdings in Zoom Video Communications were worth $348,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Axiom Advisory LLC increased its holdings in shares of Zoom Video Communications by 1.6% in the third quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after buying an additional 183 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in shares of Zoom Video Communications by 0.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after buying an additional 189 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after buying an additional 223 shares during the period. Finally, Excalibur Management Corp increased its holdings in shares of Zoom Video Communications by 5.6% in the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after buying an additional 232 shares during the period. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler decreased their price objective on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, October 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. UBS Group upgraded Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Finally, Wedbush assumed coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $75.32.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the sale, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at $191,264.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now directly owns 57,371 shares in the company, valued at $4,099,157.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,477 shares of company stock valued at $12,842,978 in the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Performance

ZM stock opened at $72.63 on Monday. The business’s 50 day moving average price is $68.49 and its two-hundred day moving average price is $62.95. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 6.26 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Zoom Video Communications 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.