Maverick Capital Ltd. Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Maverick Capital Ltd. bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,629 shares of the company’s stock, valued at approximately $1,517,000.

Other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Zoom Video Communications in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications in the second quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications in the second quarter worth about $41,000. Tradition Wealth Management LLC lifted its position in shares of Zoom Video Communications by 597.0% in the fourth quarter. Tradition Wealth Management LLC now owns 690 shares of the company’s stock worth $50,000 after buying an additional 591 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Zoom Video Communications by 1,257.7% during the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after buying an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 0.9 %

NASDAQ ZM opened at $69.55 on Friday. The stock has a market cap of $21.51 billion, a PE ratio of 25.95, a PEG ratio of 5.98 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. The company’s 50-day moving average price is $63.51 and its 200-day moving average price is $62.37.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler reduced their price objective on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Benchmark reissued a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research note on Monday, August 5th. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company lifted their price target on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $74.68.

Insider Buying and Selling at Zoom Video Communications

In other news, CAO Shane Crehan sold 2,493 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $58.26, for a total transaction of $145,242.18. Following the transaction, the chief accounting officer now owns 2,367 shares of the company’s stock, valued at approximately $137,901.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,272 shares of the company’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 completion of the sale, the insider now owns 82,792 shares in the company, valued at $4,731,562.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Shane Crehan sold 2,493 shares of Zoom Video Communications stock in a transaction on Monday, July 8th. The shares were sold at an average price of $58.26, for a total value of $145,242.18. Following the completion of the transaction, the chief accounting officer now owns 2,367 shares in the company, valued at $137,901.42. 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 ninety days. Corporate insiders own 10.78% of the company’s stock.

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.