Great West Life Assurance Co. Can bought a new position in shares of Zoom Video Communications Inc (NASDAQ:ZM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 428 shares of the company’s stock, valued at approximately $33,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. SALESFORCE.COM Inc. acquired a new stake in shares of Zoom Video Communications during the second quarter worth about $246,639,000. Vanguard Group Inc. acquired a new stake in shares of Zoom Video Communications during the second quarter worth about $151,471,000. Coatue Management LLC acquired a new stake in shares of Zoom Video Communications during the second quarter worth about $109,677,000. Whale Rock Capital Management LLC acquired a new stake in shares of Zoom Video Communications during the second quarter worth about $108,258,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Zoom Video Communications during the second quarter worth about $97,188,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.
Shares of Zoom Video Communications stock opened at $69.85 on Friday. The business’s 50 day simple moving average is $71.60 and its 200 day simple moving average is $83.84. Zoom Video Communications Inc has a 52-week low of $59.94 and a 52-week high of $107.34. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.00 and a quick ratio of 4.00.
Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Thursday, September 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. The firm had revenue of $145.80 million during the quarter, compared to analyst estimates of $130.55 million. Zoom Video Communications’s revenue was up 95.7% on a year-over-year basis. As a group, equities analysts forecast that Zoom Video Communications Inc will post -0.03 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Zoom Video Communications from $113.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Rosenblatt Securities set a $75.00 price target on Zoom Video Communications and gave the stock a “hold” rating in a research report on Friday, October 18th. FBN Securities started coverage on Zoom Video Communications in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $85.00 price target on the stock. Bank of America lifted their target price on Zoom Video Communications from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada dropped their target price on Zoom Video Communications to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $88.53.
In other Zoom Video Communications news, insider Aparna Bawa sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $66.51, for a total value of $1,330,200.00. Also, CAO Roy Benhorin sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $70.05, for a total value of $7,005,000.00. Over the last 90 days, insiders sold 187,809 shares of company stock valued at $12,846,866.
Zoom Video Communications Profile
Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
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