Cambridge Investment Research Advisors Inc. raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 65.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,728 shares of the company's stock after acquiring an additional 25,715 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Zoom Video Communications were worth $6,989,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of ZM. HM Payson & Co. boosted its stake in shares of Zoom Video Communications by 9.4% during the fourth quarter. HM Payson & Co. now owns 804 shares of the company's stock valued at $148,000 after purchasing an additional 69 shares during the period. ETF Managers Group LLC boosted its stake in shares of Zoom Video Communications by 4.2% during the fourth quarter. ETF Managers Group LLC now owns 2,123 shares of the company's stock valued at $404,000 after purchasing an additional 86 shares during the period. PrairieView Partners LLC boosted its stake in shares of Zoom Video Communications by 49.8% during the first quarter. PrairieView Partners LLC now owns 301 shares of the company's stock valued at $35,000 after purchasing an additional 100 shares during the period. 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. Finally, Benjamin Edwards Inc. boosted its stake in shares of Zoom Video Communications by 17.6% during the first quarter. Benjamin Edwards Inc. now owns 881 shares of the company's stock valued at $103,000 after purchasing an additional 132 shares during the period. Institutional investors own 52.86% of the company's stock.
Get Zoom Video Communications alerts:Zoom Video Communications Trading Down 0.1 %
Shares of NASDAQ:ZM opened at $74.45 on Friday. Zoom Video Communications, Inc. has a twelve month low of $73.32 and a twelve month high of $291.31. The company's 50 day moving average is $93.98 and its 200 day moving average is $102.82. The company has a market cap of $22.16 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 4.18 and a beta of -0.49.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last released its quarterly earnings data on Monday, August 22nd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. Zoom Video Communications had a return on equity of 11.87% and a net margin of 23.05%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that Zoom Video Communications, Inc. will post 1.3 earnings per share for the current fiscal year.Analyst Ratings Changes
A number of research firms recently weighed in on ZM. Royal Bank of Canada lowered their price objective on shares of Zoom Video Communications from $150.00 to $130.00 in a research note on Tuesday, August 23rd. The Goldman Sachs Group lowered their price objective on shares of Zoom Video Communications from $142.00 to $122.00 and set a "neutral" rating for the company in a research note on Tuesday, August 23rd. Piper Sandler lowered their price objective on shares of Zoom Video Communications from $115.00 to $91.00 and set a "neutral" rating for the company in a research note on Tuesday, August 23rd. Sanford C. Bernstein began coverage on shares of Zoom Video Communications in a research note on Tuesday, July 19th. They issued a "market perform" rating and a $122.00 price objective for the company. Finally, KeyCorp began coverage on shares of Zoom Video Communications in a research note on Monday, September 12th. They issued a "sector weight" rating for the company. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $136.03.
Insider Activity
In other news, COO Aparna Bawa sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $101.34, for a total transaction of $202,680.00. Following the transaction, the chief operating officer now owns 75,743 shares in the company, valued at approximately $7,675,795.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,319 shares of the firm's stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $109.79, for a total value of $254,603.01. Following the transaction, the insider now owns 10,863 shares in the company, valued at approximately $1,192,648.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $101.34, for a total value of $202,680.00. Following the completion of the transaction, the chief operating officer now owns 75,743 shares in the company, valued at approximately $7,675,795.62. The disclosure for this sale can be found here. Insiders have sold 32,823 shares of company stock worth $3,526,086 in the last quarter. Corporate insiders own 11.24% of the company's stock.
Zoom Video Communications Company Profile
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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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