Sciencast Management LP trimmed its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 53.9% in the first quarter, Holdings Channel.com reports. The fund owned 2,183 shares of the company’s stock after selling 2,553 shares during the quarter. Sciencast Management LP’s holdings in Zoom Video Communications were worth $718,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. M&G Investment Management Ltd. raised its stake in Zoom Video Communications by 642.7% during the first quarter. M&G Investment Management Ltd. now owns 4,753 shares of the company’s stock worth $1,526,000 after buying an additional 4,113 shares during the last quarter. Budros Ruhlin & Roe Inc. bought a new position in shares of Zoom Video Communications in the 1st quarter worth about $570,000. Elo Mutual Pension Insurance Co lifted its stake in shares of Zoom Video Communications by 14.2% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 14,051 shares of the company’s stock valued at $4,514,000 after purchasing an additional 1,751 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Zoom Video Communications by 80.8% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 4,583 shares of the company’s stock valued at $1,473,000 after purchasing an additional 2,048 shares in the last quarter. Finally, Perpetual Investment Management Ltd grew its stake in Zoom Video Communications by 177.0% during the first quarter. Perpetual Investment Management Ltd now owns 8,450 shares of the company’s stock worth $2,707,000 after purchasing an additional 5,400 shares during the period. 42.43% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on ZM shares. Wolfe Research assumed coverage on Zoom Video Communications in a report on Friday, April 23rd. They set an “outperform” rating and a $390.00 price target on the stock. UBS Group increased their target price on shares of Zoom Video Communications from $325.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 2nd. They noted that the move was a valuation call. Bank of America started coverage on shares of Zoom Video Communications in a research note on Tuesday, April 20th. They issued a “buy” rating for the company. Mizuho cut their price objective on shares of Zoom Video Communications from $550.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, May 14th. Finally, JPMorgan Chase & Co. boosted their target price on Zoom Video Communications from $385.00 to $456.00 and gave the company a “neutral” rating in a research report on Wednesday, June 2nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $426.19.
Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, May 31st. The company reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.33. The firm had revenue of $956.24 million for the quarter, compared to analysts’ expectations of $908.17 million. Zoom Video Communications had a net margin of 25.34% and a return on equity of 37.79%. The company’s quarterly revenue was up 191.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. Analysts predict that Zoom Video Communications, Inc. will post 2.22 EPS for the current year.
In related news, Director Kimberly Hammonds sold 189 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $350.00, for a total value of $66,150.00. Following the sale, the director now owns 189 shares of the company’s stock, valued at approximately $66,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 2,593 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $329.48, for a total value of $854,341.64. The disclosure for this sale can be found here. Insiders have sold 136,201 shares of company stock worth $43,528,954 over the last quarter. 12.27% of the stock is currently owned by corporate insiders.
Zoom Video Communications 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 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 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 to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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