Cwm LLC Has $4.39 Million Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Cwm LLC grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 657.7% in the third quarter, HoldingsChannel.com reports. The fund owned 62,917 shares of the company’s stock after acquiring an additional 54,613 shares during the quarter. Cwm LLC’s holdings in Zoom Video Communications were worth $4,388,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

ZM has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday. Bank of America dropped their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Stifel Nicolaus raised their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday. Robert W. Baird lowered their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.05.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 10,338 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $69.51, for a total value of $718,594.38. Following the sale, the insider now owns 104,414 shares of the company’s stock, valued at approximately $7,257,817.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the transaction, the chief executive officer now owns 114,341 shares in the company, valued at $7,798,056.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 10,338 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $69.51, for a total transaction of $718,594.38. Following the completion of the sale, the insider now directly owns 104,414 shares in the company, valued at approximately $7,257,817.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,074 shares of company stock valued at $9,595,146 in the last three months. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 0.2 %

Shares of Zoom Video Communications stock opened at $70.68 on Friday. The firm has a market capitalization of $21.75 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 6.11 and a beta of -0.04. The business’s fifty day simple moving average is $65.62 and its 200 day simple moving average is $62.48. 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 issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company 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 firm earned $0.55 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal 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.