Price T Rowe Associates Inc. MD Lowers Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) (2024)

Price T Rowe Associates Inc. MD lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,119 shares of the company’s stock after selling 25,476 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of Zoom Video Communications worth $11,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Securities Inc. acquired a new position in Zoom Video Communications during the 4th quarter valued at about $25,000. Quadrant Capital Group LLC increased its holdings in shares of Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Zoom Video Communications in the 4th quarter valued at approximately $32,000. Rakuten Securities Inc. purchased a new stake in Zoom Video Communications during the 4th quarter worth approximately $43,000. Finally, GAMMA Investing LLC acquired a new position in Zoom Video Communications during the 4th quarter valued at approximately $48,000. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZM. Piper Sandler dropped their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI reduced their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, May 21st. Rosenblatt Securities upped their target price on Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Robert W. Baird reduced their price target on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $75.22.

Check Out Our Latest Report on Zoom Video Communications

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $58.49 on Friday. The company’s 50-day moving average is $59.33 and its two-hundred day moving average is $62.70. Zoom Video Communications, Inc. has a 1-year low of $55.63 and a 1-year high of $75.90. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 8.97 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM – Get Free Report) last issued its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities analysts anticipate that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 10,332 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $56.81, for a total value of $586,960.92. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $112,370.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Aparna Bawa sold 10,332 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $56.81, for a total transaction of $586,960.92. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $112,370.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,538 shares of Zoom Video Communications stock in a transaction dated Sunday, June 9th. The shares were sold at an average price of $62.42, for a total value of $96,001.96. Following the completion of the transaction, the chief accounting officer now directly owns 1,475 shares of the company’s stock, valued at $92,069.50. The disclosure for this sale can be found here. Insiders sold a total of 118,629 shares of company stock valued at $6,935,309 over the last 90 days. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Company Profile

(Free Report)

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.

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