Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 98.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,955 shares of the company's stock after buying an additional 35,230 shares during the quarter. Mackenzie Financial Corp's holdings in Zoom Video Communications were worth $5,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC increased its stake in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications in the fourth quarter worth about $39,000. Forsta AP Fonden boosted its position in shares of Zoom Video Communications by 1.9% in the fourth quarter. Forsta AP Fonden now owns 49,400 shares of the company's stock worth $4,032,000 after buying an additional 900 shares during the period. Swedbank AB lifted its stake in shares of Zoom Video Communications by 96.3% in the fourth quarter. Swedbank AB now owns 82,247 shares of the company's stock worth $6,712,000 after acquiring an additional 40,351 shares in the last quarter. Finally, Mediolanum International Funds Ltd raised its stake in Zoom Video Communications by 16.1% during the fourth quarter. Mediolanum International Funds Ltd now owns 210,063 shares of the company's stock valued at $17,336,000 after buying an additional 29,206 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ZM shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a report on Thursday, May 22nd. William Blair reiterated an "outperform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Thursday, May 22nd. Piper Sandler increased their price objective on Zoom Video Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Mizuho lowered their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Fifteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $87.61.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 16,099 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at approximately $143,583.02. This represents a 89.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock valued at $12,132,994 over the last 90 days. 11.51% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Performance

Shares of ZM stock traded up $0.38 on Friday, hitting $80.32. 5,485,271 shares of the company's stock traded hands, compared to its average volume of 2,988,472. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company's fifty day simple moving average is $76.27 and its 200 day simple moving average is $79.66. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the company earned $1.35 earnings per share. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

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.