Van ECK Associates Corp lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 373.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,567 shares of the company's stock after purchasing an additional 22,537 shares during the period. Van ECK Associates Corp's holdings in Zoom Video Communications were worth $2,054,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Intellectus Partners LLC raised its stake in Zoom Video Communications by 18.3% in the fourth quarter. Intellectus Partners LLC now owns 11,574 shares of the company's stock valued at $832,000 after buying an additional 1,790 shares during the period. Russell Investments Group Ltd. grew its holdings in Zoom Video Communications by 9.3% in the 4th quarter. Russell Investments Group Ltd. now owns 270,245 shares of the company's stock valued at $19,677,000 after buying an additional 22,897 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of Zoom Video Communications by 6.9% during the fourth quarter. Motley Fool Asset Management LLC now owns 8,187 shares of the company's stock worth $589,000 after buying an additional 532 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Zoom Video Communications by 28.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,147 shares of the company's stock valued at $586,000 after purchasing an additional 1,816 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Zoom Video Communications by 11.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,303 shares of the company's stock valued at $525,000 after purchasing an additional 775 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on ZM. Wedbush reiterated a "neutral" rating and issued a $80.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Jefferies Financial Group began coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a "hold" rating and a $70.00 target price for the company. BNP Paribas lowered Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 price target on the stock. in a report on Thursday, January 18th. Rosenblatt Securities raised Zoom Video Communications from a "neutral" rating to a "buy" rating and set a $75.00 target price on the stock in a research report on Thursday, April 18th. Finally, Mizuho decreased 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. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $77.56.
Read Our Latest Stock Analysis on Zoom Video Communications
Insider Activity at Zoom Video Communications
In other Zoom Video Communications news, CAO Shane Crehan sold 1,931 shares of the company's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $135,170.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Shane Crehan sold 1,931 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 value of $135,170.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 27,963 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the transaction, the chief executive officer now owns 95,140 shares in the company, valued at $5,896,777.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,230 shares of company stock worth $6,175,032. Corporate insiders own 10.78% of the company's stock.
Zoom Video Communications Stock Performance
NASDAQ ZM traded down $0.10 during mid-day trading on Thursday, reaching $61.13. 2,521,097 shares of the stock were exchanged, compared to its average volume of 3,252,008. The business's 50 day moving average is $64.43 and its 200-day moving average is $65.74. The company has a market capitalization of $18.80 billion, a P/E ratio of 30.01 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $75.90.
Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.34. The business had revenue of $1.15 billion during 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%. Equities analysts predict that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.
Zoom Video Communications Profile
(
Free Report)
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.
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