Optas LLC Invests $463,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Optas LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,277 shares of the company's stock, valued at approximately $463,000.

A number of other hedge funds have also bought and sold shares of ZM. Wynn Capital LLC grew its stake in shares of Zoom Video Communications by 1.6% during the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after purchasing an additional 160 shares during the period. Principal Securities Inc. boosted its stake in shares of Zoom Video Communications by 26.9% during the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock worth $64,000 after acquiring an additional 166 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Zoom Video Communications by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after acquiring an additional 168 shares during the period. Siemens Fonds Invest GmbH increased its stake in shares of Zoom Video Communications by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock valued at $391,000 after purchasing an additional 174 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in Zoom Video Communications by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company's stock worth $3,303,000 after purchasing an additional 215 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 2,595 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $80.26, for a total value of $208,274.70. Following the sale, the insider now owns 126,393 shares of the company's stock, valued at $10,144,302.18. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,671 shares of company stock worth $7,078,546 over the last ninety days. Corporate insiders own 11.51% of the company's stock.

Zoom Video Communications Stock Up 1.0%

Shares of ZM traded up $0.77 during trading hours on Monday, reaching $77.40. 526,565 shares of the company traded hands, compared to its average volume of 2,489,751. The stock has a fifty day simple moving average of $77.64 and a 200 day simple moving average of $79.38. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market capitalization of $23.42 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 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 the consensus estimate of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.35 EPS. Research analysts predict that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ZM shares. Piper Sandler boosted their price objective on Zoom Video Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. KeyCorp assumed coverage on shares of Zoom Video Communications in a research note on Friday, June 6th. They issued an "underweight" rating and a $73.00 price target for the company. Rosenblatt Securities raised their price objective on shares of Zoom Video Communications from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. UBS Group lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Benchmark restated a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and an average price target of $87.00.

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.