Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,105 shares of the company’s stock after selling 530 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Zoom Video Communications were worth $1,332,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in Zoom Video Communications during the 2nd quarter worth about $763,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after purchasing an additional 167,618 shares during the last quarter. National Pension Service grew its holdings in shares of Zoom Video Communications by 30.1% during the third quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after buying an additional 151,728 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of Zoom Video Communications in the third quarter valued at approximately $827,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Zoom Video Communications during the third quarter worth approximately $1,245,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $80.19 on Friday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $80.47. The stock’s 50 day moving average price is $70.01 and its 200 day moving average price is $63.80. The firm has a market capitalization of $24.68 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 6.51 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Activity at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 5,013 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total transaction of $299,276.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total value of $299,276.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 372,121 shares of company stock valued at $27,095,467. Insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ZM shares. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Robert W. Baird dropped their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, Wedbush initiated coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.32.

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.