State of Wyoming Buys 5,607 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

State of Wyoming increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 286.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,561 shares of the company's stock after buying an additional 5,607 shares during the period. State of Wyoming's holdings in Zoom Video Communications were worth $617,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Merit Financial Group LLC acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $1,072,000. Swedbank AB lifted its stake in Zoom Video Communications by 96.3% in the fourth quarter. Swedbank AB now owns 82,247 shares of the company's stock valued at $6,712,000 after buying an additional 40,351 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake 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 buying an additional 7,518 shares during the last quarter. Silver Lake Advisory LLC boosted its stake in Zoom Video Communications by 13.3% during the 4th quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company's stock valued at $3,291,000 after purchasing an additional 4,745 shares during the period. Finally, Caprock Group LLC bought a new position in Zoom Video Communications in the 4th quarter worth approximately $288,000. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Trading Down 0.2%

NASDAQ ZM traded down $0.20 on Thursday, reaching $82.07. The stock had a trading volume of 6,369,751 shares, compared to its average volume of 2,993,416. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The business has a 50 day moving average price of $75.78 and a 200 day moving average price of $79.70. The company has a market capitalization of $25.05 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 EPS. On average, analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZM has been the topic of several research analyst reports. Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. raised their price objective on shares of Zoom Video Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday. Scotiabank boosted their target price on shares of Zoom Video Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a report on Friday, May 16th. Citigroup reduced their target price on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Finally, Morgan Stanley lifted their price target on shares of Zoom Video Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday. Fifteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zoom Video Communications presently has a consensus rating of "Hold" and an average price target of $87.61.

Insider Activity

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now owns 157,824 shares of the company's stock, valued at $12,439,687.68. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,515 shares of company stock worth $12,132,994. 11.51% of the stock is owned by corporate insiders.

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.