BlackRock Inc. cut its holdings in Zoom Video Communications, Inc. (NASDAQ: ZM – Get Rating) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,380,265 shares of the company stock after selling 101,787 shares during the period. BlackRock Inc.’s holdings in Zoom Video Communications were worth $ 1,909,036,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Ellevest Inc. raised its stake in shares of Zoom Video Communications by 94.8% in the fourth quarter. Ellevest Inc. now owns 150 shares of the company stock worth $ 28,000 after purchasing an additional 73 shares during the last quarter. BerganKDV Wealth Management LLC raised its position in Zoom Video Communications by 144.4% in the 4th quarter. BerganKDV Wealth Management LLC now owns 154 shares of the company stock worth $ 28,000 after buying an additional 91 shares during the last quarter. Global Trust Asset Management LLC lifted its stake in Zoom Video Communications by 1,035.7% during the 4th quarter. Global Trust Asset Management LLC now owns 159 shares of the company stock valued at $ 29,000 after acquiring an additional 145 shares during the period. Burleson & Company LLC boosted its holdings in shares of Zoom Video Communications by 116.4% during the 4th quarter. Burleson & Company LLC now owns 170 shares of the company stock valued at $ 31,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Reilly Financial Advisors LLC grew its stake in shares of Zoom Video Communications by 131.6% in the fourth quarter. Reilly Financial Advisors LLC now owns 176 shares of the company stock worth $ 32,000 after acquiring an additional 100 shares during the period. 55.94% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on ZM shares. Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $ 150.00 to $ 120.00 in a report on Tuesday, May 24th. BTIG Research cut their price objective on Zoom Video Communications from $ 180.00 to $ 150.00 in a report on Friday, May 13th. BNP Paribas started coverage on Zoom Video Communications in a report on Tuesday, March 29th. They issued a “neutral” rating and a $ 110.00 target price on the stock. Wells Fargo & Company cut their price target on Zoom Video Communications from $ 145.00 to $ 105.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 15th. Finally, Guggenheim lowered their price objective on shares of Zoom Video Communications to $ 130.00 in a research note 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $ 169.42.
In other Zoom Video Communications news, COO Aparna Bawa sold 3,449 shares of Zoom Video Communications stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $ 118.64, for a total value of $ 409,189.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 2,256 shares of the company stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $ 111.69, for a total transaction of $ 251,972.64. Following the sale, the insider now owns 5,836 shares in the company, valued at $ 651,822.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,609 shares of company stock valued at $ 5,505,787. 11.24% of the stock is owned by corporate insiders.
Shares of NASDAQ: ZM opened at $ 110.00 on Monday. The firm has a market cap of $ 32.82 billion, a price-to-earnings ratio of 26.70, a P / E / G ratio of 3.23 and a beta of -0.67. The firm has a fifty day moving average price of $ 102.63 and a 200 day moving average price of $ 131.64. Zoom Video Communications, Inc. has a fifty-two week low of $ 79.03 and a fifty-two week high of $ 406.48.
Zoom Video Communications (NASDAQ: ZM – Get Rating) last announced its quarterly earnings results on Monday, May 23rd. The company reported $ 0.47 EPS for the quarter, topping the consensus estimate of $ 0.35 by $ 0.12. The business had revenue of $ 1.07 billion for the quarter, compared to analysts’ expectations of $ 1.07 billion. Zoom Video Communications had a net margin of 29.91% and a return on equity of 16.56%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $ 0.97 EPS. Equities research analysts anticipate that Zoom Video Communications, Inc. will post 1.75 EPS for the current year.
About Zoom Video Communications: (Get Rating)
Zoom Video Communications, Inc provides unified 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; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.
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