Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by ARK Investment Management LLC

ARK Investment Management LLC lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,964,576 shares of the company's stock after purchasing an additional 781,663 shares during the period. Zoom Video Communications comprises about 4.7% of ARK Investment Management LLC's investment portfolio, making the stock its 6th biggest position. ARK Investment Management LLC owned 3.64% of Zoom Video Communications worth $788,463,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Zoom Video Communications by 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company's stock worth $34,000 after purchasing an additional 114 shares during the period. Neo Ivy Capital Management increased its position in Zoom Video Communications by 56.8% during the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company's stock valued at $39,000 after purchasing an additional 133 shares during the period. Covestor Ltd lifted its position in shares of Zoom Video Communications by 76.7% in the 1st quarter. Covestor Ltd now owns 394 shares of the company's stock worth $46,000 after purchasing an additional 171 shares during the period. MML Investors Services LLC boosted its stake in shares of Zoom Video Communications by 1.8% during the 1st quarter. MML Investors Services LLC now owns 9,550 shares of the company's stock valued at $705,000 after purchasing an additional 173 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Zoom Video Communications by 7.4% during the third quarter. Harbour Investments Inc. now owns 2,535 shares of the company's stock valued at $177,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 19,207 shares of the business's stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $67.00, for a total value of $1,286,869.00. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at approximately $132,526. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Velchamy Sankarlingam sold 15,611 shares of Zoom Video Communications stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $67.98, for a total value of $1,061,235.78. Following the transaction, the insider now directly owns 70,061 shares in the company, valued at approximately $4,762,746.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 19,207 shares of the firm's stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $67.00, for a total value of $1,286,869.00. Following the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $132,526. The disclosure for this sale can be found here. In the last three months, insiders sold 67,075 shares of company stock valued at $4,534,500. Insiders own 11.28% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ZM. Piper Sandler boosted their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday, January 12th. Rosenblatt Securities restated a "neutral" rating and set a $75.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Wells Fargo & Company lowered shares of Zoom Video Communications from an "equal weight" rating to an "underweight" rating and set a $70.00 target price for the company. in a research note on Wednesday, December 20th. Jefferies Financial Group started coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a "hold" rating and a $70.00 price objective for the company. Finally, Mizuho reduced their price objective on Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $77.56.

Zoom Video Communications Stock Performance

ZM stock traded down $1.25 during trading on Thursday, hitting $65.37. 2,603,561 shares of the company's stock traded hands, compared to its average volume of 3,454,612. The business has a fifty day simple moving average of $66.23 and a 200 day simple moving average of $66.79. Zoom Video Communications, Inc. has a 52 week low of $58.87 and a 52 week high of $75.90. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of 32.04 and a beta of -0.06.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. Research analysts forecast that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.

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.