IFM Investors Pty Ltd boosted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 27.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,693 shares of the company’s stock after purchasing an additional 3,576 shares during the quarter. IFM Investors Pty Ltd’s holdings in Zoom Video Communications were worth $5,631,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Ballew Advisors Inc boosted its position in Zoom Video Communications by 58.0% during the fourth quarter. Ballew Advisors Inc now owns 697 shares of the company’s stock worth $235,000 after purchasing an additional 256 shares during the period. Redpoint Investment Management Pty Ltd raised its stake in Zoom Video Communications by 57.9% in the fourth quarter. Redpoint Investment Management Pty Ltd now owns 4,781 shares of the company’s stock valued at $1,613,000 after purchasing an additional 1,753 shares in the last quarter. Sowell Financial Services LLC raised its stake in Zoom Video Communications by 8.1% in the fourth quarter. Sowell Financial Services LLC now owns 6,322 shares of the company’s stock valued at $2,133,000 after purchasing an additional 475 shares in the last quarter. Hamilton Lane Advisors LLC raised its stake in Zoom Video Communications by 2,034.3% in the fourth quarter. Hamilton Lane Advisors LLC now owns 94,911 shares of the company’s stock valued at $32,015,000 after purchasing an additional 90,464 shares in the last quarter. Finally, Polianta Ltd raised its stake in Zoom Video Communications by 40.0% in the fourth quarter. Polianta Ltd now owns 3,500 shares of the company’s stock valued at $1,180,000 after purchasing an additional 1,000 shares in the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Eric S. Yuan sold 70,142 shares of the stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $401.87, for a total transaction of $28,187,965.54. Following the completion of the transaction, the chief executive officer now owns 177,285 shares in the company, valued at approximately $71,245,522.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bart Swanson sold 2,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $462.53, for a total value of $925,060.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $925,060. The disclosure for this sale can be found here. Insiders have sold a total of 166,884 shares of company stock valued at $74,937,633 in the last quarter. 24.25% of the stock is owned by corporate insiders.
Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Sunday, November 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.23. The firm had revenue of $777.20 million during the quarter, compared to the consensus estimate of $694.13 million. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The business’s revenue for the quarter was up 366.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. On average, sell-side analysts forecast that Zoom Video Communications, Inc. will post 1.83 EPS for the current year.
A number of research analysts recently commented on ZM shares. Piper Sandler boosted their price target on Zoom Video Communications from $411.00 to $501.00 and gave the company a “neutral” rating in a research note on Thursday, October 15th. They noted that the move was a valuation call. Zacks Investment Research downgraded Zoom Video Communications from a “strong-buy” rating to a “hold” rating and set a $472.00 target price for the company. in a research note on Saturday, November 7th. The Goldman Sachs Group boosted their target price on Zoom Video Communications from $402.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 1st. They noted that the move was a valuation call. BidaskClub downgraded Zoom Video Communications from a “hold” rating to a “sell” rating in a research note on Saturday, January 9th. Finally, Credit Suisse Group boosted their target price on Zoom Video Communications from $315.00 to $340.00 and gave the stock an “underperform” rating in a research note on Tuesday, December 1st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $436.54.
Zoom Video Communications Company Profile
Zoom Video Communications, Inc provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company's product portfolio includes 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables sharing messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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