Baillie Gifford & Co. Has $73.93 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Baillie Gifford & Co. decreased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 68.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,028,079 shares of the company's stock after selling 2,190,660 shares during the period. Baillie Gifford & Co. owned approximately 0.34% of Zoom Video Communications worth $73,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Global Wealth Management Investment Advisory Inc. boosted its stake 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 valued at $34,000 after purchasing an additional 114 shares during the period. Neo Ivy Capital Management boosted its stake in shares of Zoom Video Communications by 56.8% during the second 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 boosted its stake in shares of Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company's stock valued at $46,000 after purchasing an additional 171 shares during the period. AM Squared Ltd purchased a new stake in Zoom Video Communications in the third quarter worth about $28,000. Finally, Money Concepts Capital Corp lifted its stake in Zoom Video Communications by 821.2% in the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company's stock worth $32,000 after acquiring an additional 427 shares during the period. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Price Performance

NASDAQ:ZM traded down $1.63 during midday trading on Wednesday, hitting $62.22. The company's stock had a trading volume of 3,166,176 shares, compared to its average volume of 3,392,952. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The firm's 50 day moving average is $65.38 and its 200-day moving average is $66.35. The firm has a market cap of $19.14 billion, a P/E ratio of 30.50 and a beta of -0.07.

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

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a "hold" rating and a $70.00 price objective for the company. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $75.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, March 26th. Wedbush reiterated a "neutral" rating and issued a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Piper Sandler boosted their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a "neutral" rating in a report on Friday, January 12th. Finally, Wells Fargo & Company downgraded 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 report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average price target of $77.56.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 19,207 shares of the company's stock in a transaction that occurred on Thursday, January 18th. The stock was 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 owns 1,978 shares in the company, valued at approximately $132,526. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Aparna Bawa sold 19,207 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $67.00, for a total transaction of $1,286,869.00. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $132,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,791 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total value of $238,719.27. Following the transaction, the insider now owns 91,721 shares in the company, valued at approximately $5,775,671.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,973 shares of company stock worth $4,112,726. Corporate insiders own 11.28% of the company's stock.

Zoom Video Communications Company 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.