Oak Thistle LLC Lowers Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

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

Other large investors also recently added to or reduced their stakes in the company. Evoke Wealth LLC raised its holdings in shares of Zoom Video Communications by 3.5% during the 4th quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock worth $364,000 after acquiring an additional 172 shares in the last quarter. Xponance Inc. raised its holdings in shares of Zoom Video Communications by 2.0% during the 4th quarter. Xponance Inc. now owns 9,279 shares of the company’s stock worth $667,000 after acquiring an additional 179 shares in the last quarter. Cantor Fitzgerald L. P. raised its holdings in shares of Zoom Video Communications by 2.7% during the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after acquiring an additional 197 shares in the last quarter. Quadrant Capital Group LLC raised its holdings 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 acquiring an additional 267 shares in the last quarter. Finally, Wynn Capital LLC raised its holdings in shares of Zoom Video Communications by 3.3% during the 1st quarter. Wynn Capital LLC now owns 8,881 shares of the company’s stock worth $581,000 after acquiring an additional 284 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZM has been the topic of several analyst reports. Evercore ISI cut their target price on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research report 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 on the stock in a research report on Tuesday, May 21st. Rosenblatt Securities upped their price objective on Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Wells Fargo & Company cut their price objective on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, June 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.44.

Insider Buying and Selling

In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $57.59, for a total transaction of $288,353.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $57.59, for a total value of $288,353.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Aparna Bawa sold 21,968 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $60.18, for a total value of $1,322,034.24. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $119,036.04. The disclosure for this sale can be found here. Insiders have sold a total of 108,100 shares of company stock valued at $6,644,293 over the last ninety days. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded up $0.02 during midday trading on Monday, reaching $59.21. The company’s stock had a trading volume of 1,867,779 shares, compared to its average volume of 3,355,286. The stock’s 50-day simple moving average is $61.20 and its 200-day simple moving average is $64.73. Zoom Video Communications, Inc. has a 52-week low of $55.63 and a 52-week high of $75.90. The stock 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 announced its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. As a group, equities research analysts expect that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal 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.