Fluent Financial LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Fluent Financial LLC acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,639 shares of the company's stock, valued at approximately $623,000.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after buying an additional 282,645 shares in the last quarter. Norges Bank bought a new stake in Zoom Video Communications in the fourth quarter worth approximately $751,908,000. AQR Capital Management LLC increased its stake in shares of Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock worth $615,237,000 after purchasing an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after purchasing an additional 1,247,717 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Zoom Video Communications by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after purchasing an additional 28,725 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

NASDAQ ZM traded up $0.27 during trading on Thursday, reaching $79.94. 1,906,406 shares of the company traded hands, compared to its average volume of 2,980,140. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $24.40 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 5.48 and a beta of 0.79. The stock's 50 day moving average price is $76.19 and its two-hundred day moving average price is $79.74.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. Zoom Video Communications's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 EPS. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the transaction, the director now directly owns 157,824 shares in the company, valued at approximately $12,439,687.68. This trade represents a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock worth $12,132,994 over the last ninety days. Corporate insiders own 11.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. Mizuho cut their price objective on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. 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 Thursday, May 22nd. Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. Finally, William Blair reaffirmed an "outperform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. Fifteen research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.61.

About Zoom Video Communications

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.