Mackenzie Financial Corp Grows Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mackenzie Financial Corp lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 61.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,778 shares of the company’s stock after purchasing an additional 13,595 shares during the quarter. Mackenzie Financial Corp’s holdings in Zoom Video Communications were worth $2,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Baader Bank Aktiengesellschaft raised its holdings in Zoom Video Communications by 0.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after buying an additional 189 shares during the last quarter. 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 acquiring an additional 197 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Zoom Video Communications by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after purchasing an additional 223 shares during the last quarter. Excalibur Management Corp increased its holdings in shares of Zoom Video Communications by 5.6% in the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after purchasing an additional 232 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Zoom Video Communications by 2.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock worth $669,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,121.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,121.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total value of $591,649.47. The disclosure for this sale can be found here. Insiders sold a total of 123,908 shares of company stock valued at $7,373,459 in the last three months. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $67.61 on Thursday. The stock has a market cap of $20.91 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 5.99 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77. The firm has a fifty day moving average price of $64.32 and a 200-day moving average price of $62.35.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on ZM. Deutsche Bank Aktiengesellschaft increased their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Robert W. Baird reduced their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Piper Sandler lowered their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.68.

About Zoom Video Communications

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.