Vident Advisory LLC Takes $365,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vident Advisory LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,470 shares of the company's stock, valued at approximately $365,000.

Several other hedge funds also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. increased its holdings in Zoom Video Communications by 127.5% during 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 period. Parkside Financial Bank & Trust raised its holdings 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 acquiring an additional 258 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in Zoom Video Communications in the fourth quarter worth approximately $30,000. Finally, Colonial Trust Co SC acquired a new position in Zoom Video Communications during the 4th quarter worth approximately $32,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on ZM shares. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Piper Sandler upped their price objective on Zoom Video Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Barclays dropped their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Morgan Stanley raised their price target on Zoom Video Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Zoom Video Communications from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Fifteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $87.61.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the sale, the insider now directly owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction dated 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. Insiders have sold 164,515 shares of company stock worth $12,132,994 in the last 90 days. Insiders own 11.51% of the company's stock.

Zoom Video Communications Stock Up 0.5%

Zoom Video Communications stock traded up $0.38 during mid-day trading on Friday, hitting $80.32. 5,485,271 shares of the stock were exchanged, compared to its average volume of 2,988,472. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 5.48 and a beta of 0.79. The firm's fifty day simple moving average is $76.22 and its two-hundred day simple moving average is $79.70. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 earnings per share. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

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.