Pallas Capital Advisors LLC increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 37.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,688 shares of the company's stock after acquiring an additional 6,445 shares during the period. Pallas Capital Advisors LLC's holdings in Zoom Video Communications were worth $1,747,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. grew its holdings in Zoom Video Communications by 8.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock valued at $7,868,000 after purchasing an additional 7,518 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Zoom Video Communications in the fourth quarter valued at $966,000. PNC Financial Services Group Inc. grew its holdings in Zoom Video Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after purchasing an additional 168 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Zoom Video Communications by 768.1% in the fourth quarter. Principal Financial Group Inc. now owns 148,488 shares of the company's stock valued at $12,118,000 after purchasing an additional 131,383 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Zoom Video Communications by 87.4% in the fourth quarter. Van ECK Associates Corp now owns 78,679 shares of the company's stock valued at $6,421,000 after purchasing an additional 36,695 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.
Insider Buying and Selling at Zoom Video Communications
In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares in the company, valued at $9,026,790.39. This trade represents a 8.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 sale, the director now owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. This trade represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,054 shares of company stock worth $6,877,613 in the last 90 days. 11.51% of the stock is owned by corporate insiders.
Zoom Video Communications Stock Performance
NASDAQ ZM traded down $0.78 during trading hours on Friday, hitting $76.63. 2,266,932 shares of the company's stock were exchanged, compared to its average volume of 2,945,492. The business's 50 day moving average is $77.44 and its 200-day moving average is $79.51. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $23.18 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71.
Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $1.35 EPS. As a group, equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Morgan Stanley upped their target price on Zoom Video Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Stifel Nicolaus lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC raised Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective on the stock in a research note on Thursday, May 22nd. UBS Group decreased their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Finally, Benchmark reaffirmed a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $87.00.
Check Out Our Latest Analysis on Zoom Video Communications
About Zoom Video Communications
(
Free Report)
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.
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