Annex Advisory Services LLC reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ: ZM – Get Rating) by 1.6% during the 1st quarter, HoldingsChannel reports. The firm owned 6,405 shares of the company stock after selling 104 shares during the period. Annex Advisory Services LLC’s holdings in Zoom Video Communications were worth $ 751,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZM. State Street Corp increased its holdings in shares of Zoom Video Communications by 1.8% in the 4th quarter. State Street Corp now owns 4,767,911 shares of the company stock valued at $ 876,867,000 after acquiring an additional 83,580 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Zoom Video Communications by 43.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,268,516 shares of the company stock valued at $ 785,023,000 after acquiring an additional 1,283,356 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Zoom Video Communications by 24.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,005,012 shares of the company stock valued at $ 736,562,000 after acquiring an additional 789,132 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of Zoom Video Communications by 55.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,668,279 shares of the company stock valued at $ 675,037,000 after acquiring an additional 1,312,035 shares during the period. Finally, Fisher Asset Management LLC purchased a new position in shares of Zoom Video Communications in the 4th quarter valued at $ 418,128,000. Institutional investors own 55.94% of the company stock.
In other Zoom Video Communications news, COO Aparna Bawa sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $ 122.38, for a total transaction of $ 244,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 2,256 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $ 111.69, for a total value of $ 251,972.64. Following the sale, the insider now owns 5,836 shares of the company stock, valued at $ 651,822.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,160 shares of company stock valued at $ 5,096,598. 11.24% of the stock is owned by company insiders.
Shares of ZM stock opened at $ 122.64 on Monday. Zoom Video Communications, Inc. has a 52-week low of $ 79.03 and a 52-week high of $ 406.48. The business has a 50-day simple moving average of $ 103.20 and a 200-day simple moving average of $ 129.08. The stock has a market cap of $ 36.59 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 3.60 and a beta of -0.67.
Zoom Video Communications (NASDAQ: ZM – Get Rating) last announced its quarterly earnings results on Monday, May 23rd. The company reported $ 0.47 earnings per share for the quarter, beating the consensus estimate of $ 0.35 by $ 0.12. Zoom Video Communications had a return on equity of 16.56% and a net margin of 29.91%. The firm had revenue of $ 1.07 billion during the quarter, compared to analyst estimates of $ 1.07 billion. During the same quarter in the previous year, the business earned $ 0.97 EPS. Zoom Video Communications’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts expect that Zoom Video Communications, Inc. will post 1.75 EPS for the current year.
A number of research analysts have recently issued reports on the company. Robert W. Baird cut their price target on Zoom Video Communications from $ 190.00 to $ 180.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. The Goldman Sachs Group lowered their price target on Zoom Video Communications from $ 163.00 to $ 142.00 and set a “neutral” rating for the company in a research report on Tuesday, May 24th. Wells Fargo & Company lowered their price objective on Zoom Video Communications from $ 145.00 to $ 105.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 15th. Stifel Nicolaus lowered their price objective on Zoom Video Communications from $ 150.00 to $ 120.00 in a research report on Tuesday, May 24th. Finally, Guggenheim lowered their price objective on Zoom Video Communications to $ 130.00 in a research report on Wednesday, May 25th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target of $ 169.42.
About Zoom Video Communications: (Get Rating)
Zoom Video Communications, Inc provides unified communications platform in the Americas, 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; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.
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