IFM Investors Pty Ltd increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 5.4% in the second quarter, HoldingsChannel reports. The firm owned 35,708 shares of the company's stock after buying an additional 1,832 shares during the period. IFM Investors Pty Ltd's holdings in Zoom Video Communications were worth $3,855,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rise Advisors LLC acquired a new stake in Zoom Video Communications during the fourth quarter worth approximately $26,000. GHP Investment Advisors Inc. acquired a new stake in Zoom Video Communications during the first quarter worth approximately $29,000. Nauset Wealth Management. LLC acquired a new stake in Zoom Video Communications during the first quarter worth approximately $30,000. Private Capital Group LLC raised its position in shares of Zoom Video Communications by 242.1% in the first quarter. Private Capital Group LLC now owns 260 shares of the company's stock valued at $31,000 after buying an additional 184 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its position in shares of Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company's stock valued at $34,000 after buying an additional 114 shares in the last quarter. Institutional investors own 52.86% of the company's stock.
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In related news, COO Aparna Bawa sold 2,000 shares of the business's stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $116.62, for a total value of $233,240.00. Following the transaction, the chief operating officer now owns 77,676 shares in the company, valued at $9,058,575.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Kelly Steckelberg sold 6,700 shares of the company's stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $112.04, for a total transaction of $750,668.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 2,000 shares of the company's stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $116.62, for a total transaction of $233,240.00. Following the transaction, the chief operating officer now owns 77,676 shares in the company, valued at approximately $9,058,575.12. The disclosure for this sale can be found here. Insiders have sold a total of 32,823 shares of company stock worth $3,526,086 over the last quarter. Company insiders own 11.24% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Zoom Video Communications in a research report on Tuesday, July 19th. They issued a "market perform" rating and a $122.00 price target for the company. BTIG Research downgraded shares of Zoom Video Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 23rd. Morgan Stanley dropped their price target on shares of Zoom Video Communications from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, August 23rd. Stifel Nicolaus lowered their price objective on shares of Zoom Video Communications from $120.00 to $90.00 in a research report on Tuesday, August 23rd. Finally, 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 report on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $136.03.Zoom Video Communications Stock Down 0.1 %
Shares of Zoom Video Communications stock 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 stock has a market cap of $22.16 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 4.10 and a beta of -0.49. The company's fifty day moving average is $93.98 and its 200 day moving average is $102.78.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings data on Monday, August 22nd. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.12 billion. Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. Zoom Video Communications's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, equities analysts anticipate that Zoom Video Communications, Inc. will post 1.3 earnings per share for the current fiscal year.
About Zoom Video Communications
(Get Rating)
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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