Charles Schwab Investment Management Inc. Grows Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Charles Schwab Investment Management Inc. raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,075,625 shares of the company's stock after purchasing an additional 81,215 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.35% of Zoom Video Communications worth $77,348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AM Squared Ltd bought a new stake in shares of Zoom Video Communications during the third quarter valued at approximately $28,000. Allworth Financial LP grew its holdings in Zoom Video Communications by 101.4% during the 3rd quarter. Allworth Financial LP now owns 560 shares of the company's stock worth $39,000 after acquiring an additional 282 shares in the last quarter. Rakuten Securities Inc. bought a new position in Zoom Video Communications during the 4th quarter worth about $43,000. GAMMA Investing LLC purchased a new position in Zoom Video Communications during the 4th quarter valued at about $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Zoom Video Communications by 134.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company's stock valued at $51,000 after purchasing an additional 404 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the transaction, the insider now directly owns 71,956 shares of the company's stock, valued at $5,036,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 1,553 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 value of $108,710.00. Following the completion of the transaction, the insider now directly owns 71,956 shares of the company's stock, valued at approximately $5,036,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,163 shares of company stock valued at $6,038,858. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Up 0.7 %

Shares of NASDAQ:ZM traded up $0.42 during trading on Tuesday, hitting $63.53. The stock had a trading volume of 2,786,480 shares, compared to its average volume of 3,232,334. Zoom Video Communications, Inc. has a 12-month low of $58.87 and a 12-month high of $75.90. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 31.14 and a beta of -0.05. The stock has a 50-day simple moving average of $63.76 and a two-hundred day simple moving average of $65.77.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted 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 company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. As a group, sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Wall Street Analyst Weigh In

ZM has been the subject of a number of analyst reports. Rosenblatt Securities upgraded Zoom Video Communications from a "neutral" rating to a "buy" rating and set a $75.00 target price for the company in a report on Thursday, April 18th. BNP Paribas downgraded Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 price objective on the stock. in a research report on Thursday, January 18th. Mizuho reduced their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. Wedbush restated a "neutral" rating and issued a $80.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $77.56.

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.