Commerce Bank Sells 2,563 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Commerce Bank reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 51.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,385 shares of the company’s stock after selling 2,563 shares during the period. Commerce Bank’s holdings in Zoom Video Communications were worth $624,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Keybank National Association OH increased its holdings in Zoom Video Communications by 2.2% during the 2nd quarter. Keybank National Association OH now owns 1,470 shares of the company’s stock worth $569,000 after purchasing an additional 32 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Zoom Video Communications by 38.0% in the third quarter. Benjamin Edwards Inc. now owns 138 shares of the company’s stock valued at $36,000 after acquiring an additional 38 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Zoom Video Communications by 14.0% in the third quarter. Allworth Financial LP now owns 310 shares of the company’s stock valued at $81,000 after acquiring an additional 38 shares in the last quarter. JT Stratford LLC grew its holdings in shares of Zoom Video Communications by 3.6% in the second quarter. JT Stratford LLC now owns 1,132 shares of the company’s stock valued at $438,000 after acquiring an additional 39 shares in the last quarter. Finally, Budros Ruhlin & Roe Inc. grew its holdings in shares of Zoom Video Communications by 2.4% in the third quarter. Budros Ruhlin & Roe Inc. now owns 1,740 shares of the company’s stock valued at $455,000 after acquiring an additional 40 shares in the last quarter. 48.80% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ZM opened at $159.72 on Friday. The stock has a market capitalization of $47.60 billion, a PE ratio of 42.48, a PEG ratio of 2.59 and a beta of -1.24. Zoom Video Communications, Inc. has a 1 year low of $156.88 and a 1 year high of $451.77. The business’s 50-day moving average is $203.31 and its 200 day moving average is $280.09.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, November 22nd. The company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. Zoom Video Communications had a net margin of 29.28% and a return on equity of 24.22%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted $0.66 earnings per share. Zoom Video Communications’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, equities analysts anticipate that Zoom Video Communications, Inc. will post 3.39 EPS for the current year.

In related news, COO Aparna Bawa sold 1,912 shares of the business’s stock in a transaction that occurred on Tuesday, October 19th. The shares were sold at an average price of $274.53, for a total value of $524,901.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl M. Eschenbach sold 184 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $285.00, for a total transaction of $52,440.00. The disclosure for this sale can be found here. Insiders have sold 82,059 shares of company stock valued at $17,956,136 over the last quarter. Company insiders own 12.27% of the company’s stock.

Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 1st. Stifel Nicolaus reduced their price objective on Zoom Video Communications from $300.00 to $275.00 and set a “hold” rating for the company in a report on Tuesday, November 23rd. Daiwa Capital Markets raised Zoom Video Communications from a “sell” rating to an “underperform” rating and set a $207.00 price objective for the company in a report on Tuesday, November 30th. KeyCorp reduced their price objective on Zoom Video Communications from $344.00 to $253.00 and set an “overweight” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Zoom Video Communications from $350.00 to $280.00 and set a “hold” rating for the company in a report on Tuesday, November 23rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $306.37.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

See Also: Convertible Shares

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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