Sei Investments Co. lifted its stake in Zoom Video Communications Inc (NASDAQ:ZM) by 193.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 982,310 shares of the company’s stock after purchasing an additional 647,662 shares during the quarter. Sei Investments Co.’s holdings in Zoom Video Communications were worth $66,836,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of ZM. Trustcore Financial Services LLC raised its holdings in Zoom Video Communications by 80.0% in the 3rd quarter. Trustcore Financial Services LLC now owns 630 shares of the company’s stock worth $48,000 after acquiring an additional 280 shares during the last quarter. G&S Capital LLC purchased a new position in Zoom Video Communications in the 3rd quarter worth approximately $28,000. NEXT Financial Group Inc raised its holdings in Zoom Video Communications by 4,344.4% in the 4th quarter. NEXT Financial Group Inc now owns 400 shares of the company’s stock worth $27,000 after acquiring an additional 391 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Zoom Video Communications in the 3rd quarter worth approximately $33,000. Finally, Victory Capital Management Inc. raised its holdings in Zoom Video Communications by 5.7% in the 4th quarter. Victory Capital Management Inc. now owns 11,027 shares of the company’s stock worth $841,000 after acquiring an additional 590 shares during the last quarter. 10.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on ZM shares. BidaskClub upgraded shares of Zoom Video Communications from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Rosenblatt Securities restated a “hold” rating and issued a $70.00 price objective on shares of Zoom Video Communications in a report on Friday, December 6th. Zacks Investment Research lowered shares of Zoom Video Communications from a “buy” rating to a “hold” rating in a report on Saturday, February 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $75.00 price objective on shares of Zoom Video Communications in a report on Friday, December 6th. They noted that the move was a valuation call. Finally, Citigroup decreased their price objective on shares of Zoom Video Communications from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $80.77.
Shares of ZM stock traded up $1.09 during mid-day trading on Friday, reaching $90.95. 2,293,668 shares of the company’s stock traded hands, compared to its average volume of 3,025,566. Zoom Video Communications Inc has a 12 month low of $59.94 and a 12 month high of $107.34. The firm has a 50 day moving average price of $75.71 and a two-hundred day moving average price of $77.09. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.06.
Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $166.60 million for the quarter, compared to the consensus estimate of $156.23 million. Zoom Video Communications’s revenue for the quarter was up 84.9% on a year-over-year basis. As a group, equities analysts predict that Zoom Video Communications Inc will post 0.02 earnings per share for the current year.
In related news, CAO Roy Benhorin sold 32,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $70.00, for a total value of $2,240,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimberly Hammonds sold 3,125 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $70.00, for a total transaction of $218,750.00. Following the completion of the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $218,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,746 shares of company stock valued at $21,111,743.
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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