Van ECK Associates Corp reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 38.1% in the first quarter, the company said in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,122 shares of the company after selling 4,991 shares during the period. Van ECK Associates Corp’s interests in Zoom Video Communications were valued at $952,000 at the time of the last SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares in the company. HM Payson & Co. increased its stake in Zoom Video Communications by 9.4% in the fourth quarter. HM Payson & Co. now owns 804 shares of the company’s stock valued at $148,000 after purchasing an additional 69 shares last quarter. ETF Managers Group LLC increased its stake in Zoom Video Communications by 4.2% during the fourth quarter. ETF Managers Group LLC now owns 2,123 shares of the company’s stock valued at $404,000 after purchasing an additional 86 shares last quarter. PrairieView Partners LLC increased its stake in Zoom Video Communications by 49.8% during the first quarter. PrairieView Partners LLC now owns 301 shares of the company, valued at $35,000, after purchasing an additional 100 shares last quarter. Benjamin Edwards Inc. increased its stake in Zoom Video Communications by 17.6% during the first quarter. Benjamin Edwards Inc. now owns 881 shares of the company’s stock valued at $103,000 after purchasing an additional 132 shares last quarter. Finally, in the fourth quarter, Rise Advisors LLC acquired a new interest in Zoom Video Communications valued at approximately $26,000. 55.94% of the shares are owned by hedge funds and other institutional investors.
Insider activity at Zoom Video Communications
In other news from Zoom Video Communications, CFO Kelly Steckelberg sold 6,700 shares of the stock in a transaction that took place on Friday, May 27th. The shares were sold at an average price of $108.61 for a total transaction of $727,687.00. The transaction was disclosed in a filing with the SEC available at this link. Also on Tuesday, June 14, COO Aparna Bawa sold 2,000 shares of the company’s shares in a transaction. The shares sold at an average price of $106.60 for a total value of $213,200.00. Following the transaction, the Chief Operating Officer now owns 81,745 shares of the Company, valued at approximately $8,714,017. The sale was disclosed in a legal filing with the SEC, available at this hyperlink. Also on Friday, May 27, CFO Kelly Steckelberg sold 6,700 shares of the company’s stock in a transaction. The shares were sold at an average price of $108.61 for a total transaction of $727,687.00. The disclosure for this sale can be found here. Over the past 90 days, insiders have sold 50,223 shares of the company’s stock valued at $5,380,981. Company insiders own 11.24% of the company’s shares.
Performance of Zoom Video Communications shares
Shares of ZM opened at $83.61 on Thursday. The company has a market cap of $24.95 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.99 and a beta of -0.61. The company’s 50-day simple moving average is $108.07 and its 200-day simple moving average is $110.37. Zoom Video Communications, Inc. has a 1 year low of $79.03 and a 1 year high of $357.93.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last announced its quarterly earnings data on Monday, August 22nd. The company reported earnings per share (EPS) of $1.05 for the quarter, beating the consensus estimate of $0.94 by $0.11. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a net margin of 23.05% and a return on equity of 12.07%. The company’s quarterly revenue increased 7.6% compared to the same quarter last year. In the same quarter last year, the company reported earnings per share of $0.98. Equity analysts expect Zoom Video Communications, Inc. to post 1.75 EPS for the current fiscal year.
Changes in analyst ratings
A number of research analysts recently issued reports on the stock. Sanford C. Bernstein assumed coverage of shares of Zoom Video Communications in a research note on Tuesday, July 19. They assigned a market perform rating and a price target of $122.00 for the stock. Guggenheim lowered its target price on shares of Zoom Video Communications to $130.00 in a research note on Wednesday, May 25. Robert W. Baird lowered his price target for shares of Zoom Video Communications from $140.00 to $125.00 and gave the stock an outperform rating in a research note on Tuesday. Goldman Sachs Group lowered its target price on shares of Zoom Video Communications from $142.00 to $122.00, giving the stock a “neutral” rating in a research note on Tuesday. Finally, Benchmark lowered its target price on shares of Zoom Video Communications from $128.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target of $139.58, according to data from MarketBeat.com.
Zoom video communication profile
Zoom Video Communications, Inc provides a unified communications platform across the Americas, Asia Pacific, Europe, Middle East and Africa. The Company offers Zoom Meetings that offer HD video, voice, chat and content sharing across mobile devices, desktops, laptops, phones and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat allows users to share messages, images, audio, and content across desktops, laptops, tablets, and mobile devices.
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