Milestone Asset Management LLC Invests $450,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Milestone Asset Management LLC bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,103 shares of the company's stock, valued at approximately $450,000.

A number of other large investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $751,908,000. Altshuler Shaham Ltd boosted its stake in Zoom Video Communications by 285.9% during the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock worth $167,813,000 after acquiring an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in 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 worth $521,123,000 after acquiring an additional 1,247,717 shares during the last quarter. Raymond James Financial Inc. bought a new position in Zoom Video Communications during the 4th quarter worth approximately $99,471,000. Finally, Contrarius Group Holdings Ltd bought a new position in Zoom Video Communications during the 4th quarter worth approximately $72,854,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, the director now owns 169,452 shares of the company's stock, valued at $13,193,532.72. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now directly owns 125,529 shares of the company's stock, valued at $9,026,790.39. This represents a 8.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,984 shares of company stock valued at $6,469,680. 11.51% of the stock is owned by company insiders.

Zoom Video Communications Stock Down 0.4%

Shares of Zoom Video Communications stock traded down $0.30 during trading on Wednesday, reaching $80.68. The company's stock had a trading volume of 1,829,780 shares, compared to its average volume of 2,973,675. The business's 50-day moving average price is $76.42 and its 200-day moving average price is $79.61. The firm has a market cap of $24.63 billion, a PE ratio of 26.89, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. 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 business posted $1.35 earnings per share. Equities analysts predict that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ZM shares. JPMorgan Chase & Co. lifted their price target on shares of Zoom Video Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Morgan Stanley lifted their price target on shares of Zoom Video Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Zoom Video Communications from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, Piper Sandler lifted their price objective on shares of Zoom Video Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Fifteen analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.61.

Zoom Video Communications 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.