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

Illinois Municipal Retirement Fund lowered its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 202,000 shares of the company’s stock after selling 22,127 shares during the period. Illinois Municipal Retirement Fund owned 0.07% of Zoom Video Communications worth $16,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after acquiring an additional 2,395,396 shares during the last quarter. State Street Corp raised its holdings in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after buying an additional 134,559 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 4.4% in the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after buying an additional 233,241 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after buying an additional 184,518 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Zoom Video Communications by 9.8% during the third quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after acquiring an additional 128,800 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Mizuho lifted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Citigroup decreased their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, UBS Group boosted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.48.

Insider Buying and Selling

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 382,242 shares of company stock valued at $31,230,938. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 1.7 %

Shares of ZM opened at $81.10 on Tuesday. The company’s fifty day simple moving average is $83.13 and its 200-day simple moving average is $76.55. The company has a market cap of $24.86 billion and a P/E ratio of 27.03. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. Analysts predict that Zoom Video Communications, Inc. will post 2.93 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.