Vanguard Group Inc. Increases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vanguard Group Inc. raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,417,464 shares of the company’s stock after buying an additional 721,923 shares during the period. Vanguard Group Inc. owned about 0.08% of Zoom Video Communications worth $1,683,950,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Kestra Advisory Services LLC raised its stake in shares of Zoom Video Communications by 88.6% during the third quarter. Kestra Advisory Services LLC now owns 7,899 shares of the company’s stock valued at $552,000 after acquiring an additional 3,710 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of Zoom Video Communications during the third quarter valued at approximately $713,000. Invesco Ltd. raised its stake in shares of Zoom Video Communications by 22.1% during the third quarter. Invesco Ltd. now owns 770,065 shares of the company’s stock valued at $53,858,000 after acquiring an additional 139,131 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in shares of Zoom Video Communications by 10.0% during the third quarter. Motley Fool Asset Management LLC now owns 7,655 shares of the company’s stock valued at $535,000 after acquiring an additional 693 shares in the last quarter. Finally, Mariner LLC raised its stake in shares of Zoom Video Communications by 90.3% during the third quarter. Mariner LLC now owns 18,134 shares of the company’s stock valued at $1,268,000 after acquiring an additional 8,603 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ZM. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. Sanford C. Bernstein lowered their target price on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Tuesday, May 21st. Morgan Stanley lowered their target price on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, May 21st. Finally, Wells Fargo & Company lowered their target price on Zoom Video Communications from $70.00 to $60.00 and set an “underweight” rating for the company in a report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.72.

Zoom Video Communications Trading Down 1.3 %

Shares of ZM opened at $56.21 on Wednesday. Zoom Video Communications, Inc. has a 12 month low of $56.09 and a 12 month high of $75.90. The stock has a fifty day moving average price of $61.61 and a 200-day moving average price of $65.46. The firm has a market cap of $17.38 billion, a PE ratio of 20.97, a P/E/G ratio of 8.74 and a beta of -0.01.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, May 20th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 2.43 EPS for the current year.

Insider Activity at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 1,100 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $65.38, for a total value of $71,918.00. Following the transaction, the director now directly owns 154,459 shares of the company’s stock, valued at approximately $10,098,529.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Santiago Subotovsky sold 1,100 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $65.38, for a total value of $71,918.00. Following the transaction, the director now directly owns 154,459 shares of the company’s stock, valued at approximately $10,098,529.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Aparna Bawa sold 21,968 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $119,036.04. The disclosure for this sale can be found here. Insiders have sold a total of 104,193 shares of company stock valued at $6,427,858 in the last ninety days. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Company Profile

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.