Quarry LP Grows Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Quarry LP grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 72.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,798 shares of the company’s stock after acquiring an additional 758 shares during the quarter. Quarry LP’s holdings in Zoom Video Communications were worth $106,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ZM. Vanguard Group Inc. grew its stake in Zoom Video Communications by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after acquiring an additional 721,923 shares during the period. AQR Capital Management LLC grew its position in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the period. Pacer Advisors Inc. increased its stake in Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after purchasing an additional 2,579,720 shares during the last quarter. Acadian Asset Management LLC lifted its position in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the period. Finally, FIL Ltd boosted its stake in Zoom Video Communications by 1.3% in the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after buying an additional 40,456 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ZM. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Thursday, August 22nd. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Piper Sandler reduced their target price on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.68.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the completion of the transaction, the insider now directly owns 82,792 shares in the company, valued at $4,731,562.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Velchamy Sankarlingam sold 3,272 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total transaction of $186,994.80. Following the transaction, the insider now directly owns 82,792 shares in the company, valued at $4,731,562.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The disclosure for this sale can be found here. Insiders have sold 123,908 shares of company stock worth $7,373,459 in the last ninety days. 10.78% of the stock is owned by insiders.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $68.64 on Wednesday. The company’s fifty day moving average price is $64.13 and its two-hundred day moving average price is $62.31. The firm has a market capitalization of $21.23 billion, a P/E ratio of 25.61, a P/E/G ratio of 5.99 and a beta of -0.05. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. Zoom Video Communications’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

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.