First Horizon Advisors Inc. Sells 330 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

First Horizon Advisors Inc. reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,843 shares of the company’s stock after selling 330 shares during the quarter. First Horizon Advisors Inc.’s holdings in Zoom Video Communications were worth $133,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. AM Squared Ltd bought a new stake in Zoom Video Communications during the 3rd quarter valued at about $28,000. Allworth Financial LP increased its position in shares of Zoom Video Communications by 101.4% during the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after acquiring an additional 282 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Zoom Video Communications in the 4th quarter worth approximately $43,000. GAMMA Investing LLC bought a new position in Zoom Video Communications in the 4th quarter valued at approximately $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Zoom Video Communications by 134.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock valued at $51,000 after purchasing an additional 404 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ZM has been the subject of several recent analyst reports. Piper Sandler boosted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. JPMorgan Chase & Co. lowered their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Mizuho reduced their price target on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. BNP Paribas downgraded shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research report on Thursday, January 18th. Finally, Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.56.

Insider Activity

In other Zoom Video Communications news, CAO Shane Crehan sold 1,931 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $135,170.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Zoom Video Communications news, CAO Shane Crehan sold 1,931 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $135,170.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,067 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $65.88, for a total value of $136,173.96. Following the transaction, the director now owns 157,626 shares of the company’s stock, valued at approximately $10,384,400.88. The disclosure for this sale can be found here. Insiders have sold 95,810 shares of company stock worth $6,025,427 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $61.82 on Tuesday. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of 30.30 and a beta of -0.05. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90. The company’s 50 day moving average is $64.55 and its two-hundred day moving average is $65.74.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.15 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.