Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,857 shares of the company’s stock after selling 6,936 shares during the period. Mediolanum International Funds Ltd owned 0.06% of Zoom Video Communications worth $12,558,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications during the 2nd quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications during the 2nd quarter worth $41,000. Versant Capital Management Inc raised its stake in Zoom Video Communications by 1,257.7% during the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after acquiring an additional 893 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Zoom Video Communications by 69.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock worth $102,000 after acquiring an additional 692 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Benchmark raised their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Robert W. Baird lowered their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $75.32.

Insider Activity

In related news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total value of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at $5,070,666.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total value of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at $5,070,666.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,477 shares of company stock worth $12,842,978. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $72.63 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77. The firm has a 50 day moving average price of $68.20 and a 200 day moving average price of $62.88. The company has a market cap of $22.46 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 6.22 and a beta of -0.04.

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

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.