Perpetual Ltd Buys Shares of 10,050 Zoom Video Communications, Inc. (NASDAQ:ZM)

Perpetual Ltd purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) during the first quarter, HoldingsChannel.com reports. The fund purchased 10,050 shares of the company’s stock, valued at approximately $657,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Evoke Wealth LLC increased its position in Zoom Video Communications by 3.5% in the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock worth $364,000 after buying an additional 172 shares during the period. Xponance Inc. increased its holdings in shares of Zoom Video Communications by 2.0% in the 4th quarter. Xponance Inc. now owns 9,279 shares of the company’s stock worth $667,000 after acquiring an additional 179 shares during the period. Cantor Fitzgerald L. P. lifted its position in Zoom Video Communications by 2.7% in the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock valued at $544,000 after purchasing an additional 197 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Finally, Cyndeo Wealth Partners LLC grew its position in Zoom Video Communications by 7.0% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 4,537 shares of the company’s stock worth $326,000 after purchasing an additional 296 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total transaction of $297,215.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Santiago Subotovsky sold 1,100 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 154,459 shares in the company, valued at approximately $10,098,529.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total transaction of $297,215.52. The disclosure for this sale can be found here. Insiders have sold 104,193 shares of company stock worth $6,427,858 over the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ZM shares. Stifel Nicolaus cut their price target on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Wells Fargo & Company decreased their price target on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday. Robert W. Baird cut their price objective on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Citigroup increased their target price on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Finally, Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Two investment 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.com, the company currently has an average rating of “Hold” and a consensus price target of $75.44.

Zoom Video Communications Price Performance

Shares of ZM opened at $58.31 on Friday. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 8.63 and a beta of -0.01. The business’s 50-day moving average is $61.40 and its 200-day moving average is $65.35. Zoom Video Communications, Inc. has a fifty-two week low of $55.63 and a fifty-two week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal year.

Zoom Video Communications 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.