Cambridge Investment Research Advisors Inc. grew its holdings in Zoom Video Communications Inc (NASDAQ:ZM) by 374.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,591 shares of the company’s stock after buying an additional 22,567 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Zoom Video Communications were worth $4,178,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of ZM. Artisan Partners Limited Partnership lifted its stake in shares of Zoom Video Communications by 129.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,192,614 shares of the company’s stock worth $489,385,000 after buying an additional 4,061,148 shares during the last quarter. Baillie Gifford & Co. lifted its position in Zoom Video Communications by 191.0% during the first quarter. Baillie Gifford & Co. now owns 7,169,538 shares of the company’s stock worth $1,047,612,000 after acquiring an additional 4,706,193 shares during the last quarter. FIL Ltd lifted its position in Zoom Video Communications by 48.0% during the fourth quarter. FIL Ltd now owns 2,744,885 shares of the company’s stock worth $186,762,000 after acquiring an additional 890,787 shares during the last quarter. BosValen Asset Management Ltd bought a new stake in shares of Zoom Video Communications during the first quarter worth approximately $199,946,000. Finally, Wildcat Capital Management LLC acquired a new position in shares of Zoom Video Communications in the fourth quarter valued at approximately $77,549,000. Institutional investors own 24.41% of the company’s stock.
A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Zoom Video Communications from $125.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. BTIG Research reissued a “hold” rating on shares of Zoom Video Communications in a research report on Thursday, April 23rd. DA Davidson began coverage on shares of Zoom Video Communications in a research report on Tuesday, March 31st. They set a “neutral” rating and a $150.00 price target on the stock. Citigroup started coverage on shares of Zoom Video Communications in a research note on Friday, May 15th. They issued a “neutral” rating and a $186.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $122.50.
In other news, CFO Kelly Steckelberg sold 11,067 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $169.97, for a total transaction of $1,881,057.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Janine Pelosi sold 190,930 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $158.07, for a total value of $30,180,305.10. Following the completion of the transaction, the chief marketing officer now directly owns 191,624 shares of the company’s stock, valued at approximately $30,290,005.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 746,211 shares of company stock worth $99,785,087. Insiders own 24.25% of the company’s stock.
Zoom Video Communications stock opened at $171.06 on Friday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.08. The stock has a market cap of $48.00 billion and a PE ratio of 2,138.52. Zoom Video Communications Inc has a 12-month low of $60.97 and a 12-month high of $181.50. The business’s 50-day moving average price is $148.45 and its two-hundred day moving average price is $101.24.
Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.16. The company had revenue of $188.25 million for the quarter, compared to the consensus estimate of $176.88 million. Zoom Video Communications had a net margin of 3.73% and a return on equity of 3.30%. Zoom Video Communications’s revenue was up 77.9% on a year-over-year basis. As a group, analysts expect that Zoom Video Communications Inc will post 0.02 earnings per share for the current year.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first communications platform that 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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