Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 138.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 29,196 shares of the company's stock after acquiring an additional 16,927 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Zoom Video Communications were worth $2,099,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ZM. Vanguard Group Inc. lifted its stake in shares of Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company's stock worth $1,587,326,000 after buying an additional 1,000,005 shares in the last quarter. BlackRock Inc. lifted its position in Zoom Video Communications by 0.8% during the first quarter. BlackRock Inc. now owns 12,837,056 shares of the company's stock valued at $947,888,000 after purchasing an additional 104,955 shares during the period. ARK Investment Management LLC lifted its position in Zoom Video Communications by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company's stock valued at $788,463,000 after purchasing an additional 781,663 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Zoom Video Communications by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company's stock valued at $475,469,000 after purchasing an additional 216,768 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Zoom Video Communications by 61.0% during the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company's stock valued at $756,052,000 after purchasing an additional 2,444,294 shares during the period. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded down $0.89 during trading on Friday, hitting $61.63. The stock had a trading volume of 2,718,733 shares, compared to its average volume of 2,435,947. The firm's fifty day simple moving average is $65.28 and its 200-day simple moving average is $66.25. The stock has a market cap of $18.95 billion, a PE ratio of 30.21 and a beta of -0.07. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90.

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

Analysts Set New Price Targets

ZM has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a "neutral" rating and set a $75.00 target price on shares of Zoom Video Communications in a report on Tuesday, March 26th. JPMorgan Chase & Co. reduced their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, February 27th. Mizuho reduced their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, February 27th. Piper Sandler increased 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and a consensus target price of $77.56.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 1,553 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the sale, the insider now owns 71,956 shares of the company's stock, valued at approximately $5,036,920. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the sale, the insider now owns 71,956 shares of the company's stock, valued at $5,036,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Shane Crehan sold 1,931 shares of the company's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $135,170.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,456 shares of company stock valued at $5,539,710. Company 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.