Illinois Municipal Retirement Fund Sells 22,127 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Illinois Municipal Retirement Fund reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 202,000 shares of the company’s stock after selling 22,127 shares during the period. Illinois Municipal Retirement Fund’s holdings in Zoom Video Communications were worth $16,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning boosted its holdings in Zoom Video Communications by 18.5% in the third quarter. Creative Planning now owns 34,522 shares of the company’s stock worth $2,408,000 after acquiring an additional 5,396 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Zoom Video Communications by 0.7% in the third quarter. Raymond James & Associates now owns 53,089 shares of the company’s stock worth $3,702,000 after buying an additional 383 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Zoom Video Communications by 6,614.6% during the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock worth $34,868,000 after buying an additional 492,520 shares during the period. Allworth Financial LP raised its stake in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Zoom Video Communications by 93.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,867 shares of the company’s stock worth $2,564,000 after acquiring an additional 17,831 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $81.10 on Tuesday. The stock has a market capitalization of $24.86 billion and a price-to-earnings ratio of 27.03. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business has a 50-day moving average of $83.13 and a 200 day moving average of $76.55.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. Equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Benchmark lifted their target price on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barclays increased their price objective on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup cut their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.48.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the sale, the director now directly owns 1,514 shares in the company, valued at $121,619.62. This trade represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock worth $31,230,938 over the last 90 days. 10.78% of the stock is owned by insiders.

Zoom Video Communications Company 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.