Sciencast Management LP Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Sciencast Management LP bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,417 shares of the company’s stock, valued at approximately $1,008,000.

A number of other large investors have also bought and sold shares of ZM. Principal Securities Inc. bought a new stake in Zoom Video Communications during the 4th quarter valued at $25,000. Quadrant Capital Group LLC raised its holdings in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth about $32,000. Rakuten Securities Inc. bought a new position in Zoom Video Communications in the 4th quarter valued at about $43,000. Finally, GAMMA Investing LLC acquired a new position in Zoom Video Communications during the 4th quarter valued at about $48,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded up $0.98 during mid-day trading on Friday, hitting $57.58. The company’s stock had a trading volume of 3,436,074 shares, compared to its average volume of 3,327,610. The business has a 50 day moving average price of $60.42 and a 200-day moving average price of $63.86. Zoom Video Communications, Inc. has a 12 month low of $55.63 and a 12 month high of $75.90. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 8.59 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, May 20th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. On average, equities research analysts expect that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on ZM shares. Evercore ISI lowered their target price on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, May 21st. Robert W. Baird cut their target price on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Morgan Stanley decreased their price target on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Sanford C. Bernstein cut their price objective on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $75.22.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total value of $297,215.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total value of $186,994.80. Following the sale, the insider now directly owns 82,792 shares in the company, valued at $4,731,562.80. The disclosure for this sale can be found here. Insiders have sold a total of 135,272 shares of company stock worth $7,981,517 in the last 90 days. Company insiders own 10.78% of the company’s stock.

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.