Private Asset Management Inc. bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 700 shares of the company’s stock, valued at approximately $225,000.
Several other large investors also recently bought and sold shares of ZM. Oder Investment Management LLC bought a new position in shares of Zoom Video Communications in the fourth quarter valued at $25,000. Chiron Capital Management LLC acquired a new stake in Zoom Video Communications during the 3rd quarter valued at $28,000. tru Independence LLC acquired a new stake in Zoom Video Communications during the 4th quarter valued at $32,000. Earnest Partners LLC acquired a new stake in Zoom Video Communications during the 3rd quarter valued at $38,000. Finally, Capital Advisors Ltd. LLC lifted its holdings in Zoom Video Communications by 119.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 224 shares of the company’s stock valued at $38,000 after purchasing an additional 122 shares during the last quarter. 37.97% of the stock is currently owned by hedge funds and other institutional investors.
ZM has been the subject of a number of research reports. Piper Sandler raised Zoom Video Communications from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $501.00 to $541.00 in a report on Monday, March 8th. Rosenblatt Securities boosted their price target on Zoom Video Communications from $350.00 to $400.00 and gave the company a “neutral” rating in a research note on Monday, March 8th. Zacks Investment Research downgraded Zoom Video Communications from a “buy” rating to a “hold” rating and set a $354.00 price target for the company. in a research note on Monday, March 8th. Morgan Stanley boosted their price target on Zoom Video Communications from $390.00 to $420.00 and gave the company an “equal weight” rating in a research note on Monday, March 8th. Finally, Daiwa Capital Markets initiated coverage on Zoom Video Communications in a research note on Wednesday, March 31st. They issued a “sell” rating and a $250.00 price target for the company. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. Zoom Video Communications has a consensus rating of “Hold” and an average price target of $423.62.
Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Sunday, February 28th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.43. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The company had revenue of $882.49 million for the quarter, compared to analyst estimates of $810.97 million. During the same period in the prior year, the firm earned $0.15 earnings per share. Zoom Video Communications’s revenue for the quarter was up 368.8% on a year-over-year basis. As a group, equities research analysts expect that Zoom Video Communications, Inc. will post 1.83 EPS for the current fiscal year.
In other Zoom Video Communications news, COO Aparna Bawa sold 2,593 shares of the company’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $325.28, for a total value of $843,451.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 70,142 shares of the company’s stock in a transaction on Wednesday, January 20th. The shares were sold at an average price of $381.38, for a total value of $26,750,755.96. Following the completion of the transaction, the chief executive officer now owns 177,284 shares of the company’s stock, valued at approximately $67,612,571.92. The disclosure for this sale can be found here. Insiders have sold 434,712 shares of company stock valued at $154,584,330 in the last quarter. 24.25% of the stock is currently owned by corporate insiders.
Zoom Video Communications Profile
Zoom Video Communications, Inc provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company's product portfolio includes 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables sharing messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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