Shell Asset Management Co. Invests $285,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Shell Asset Management Co. acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,491 shares of the company's stock, valued at approximately $285,000.

Other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its holdings in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC boosted its position 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 buying an additional 265 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after buying an additional 258 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Zoom Video Communications during the fourth quarter worth about $30,000. Finally, Colonial Trust Co SC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth approximately $32,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the sale, the director now owns 157,824 shares of the company's stock, 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 SEC, which can be accessed through this link. Also, COO Aparna Bawa sold 16,099 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at approximately $143,583.02. The trade was a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,515 shares of company stock worth $12,132,994. 11.51% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Down 2.4%

ZM stock traded down $1.95 during midday trading on Friday, reaching $80.13. The company's stock had a trading volume of 2,084,341 shares, compared to its average volume of 2,990,450. The business's 50-day simple moving average is $75.92 and its 200-day simple moving average is $79.75. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market cap of $24.46 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly 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. 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%. The firm's revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $1.35 EPS. As a group, equities analysts forecast that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZM. Citigroup reduced their target price on Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Mizuho cut their price objective on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Piper Sandler increased their target price on Zoom Video Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on Zoom Video Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Rosenblatt Securities lifted their price target on Zoom Video Communications from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday. Fifteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.