Lecap Asset Management Ltd. Has $530,000 Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Lecap Asset Management Ltd. decreased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 75.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,600 shares of the company’s stock after selling 22,941 shares during the period. Lecap Asset Management Ltd.’s holdings in Zoom Video Communications were worth $530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Zoom Video Communications in the 2nd quarter worth approximately $763,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Zoom Video Communications by 9.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after buying an additional 38,924 shares in the last quarter. Andra AP fonden lifted its position in Zoom Video Communications by 78.0% in the 2nd quarter. Andra AP fonden now owns 238,700 shares of the company’s stock worth $14,129,000 after buying an additional 104,600 shares in the last quarter. Swedbank AB purchased a new stake in Zoom Video Communications in the 1st quarter worth approximately $2,100,000. Finally, Commonwealth Equity Services LLC lifted its position in Zoom Video Communications by 47.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 44,171 shares of the company’s stock worth $2,887,000 after buying an additional 14,170 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 35,722 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the transaction, the chief executive officer now directly owns 57,371 shares in the company, valued at $4,099,157.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 35,722 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now directly owns 57,371 shares of the company’s stock, valued at approximately $4,099,157.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,338 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $69.51, for a total transaction of $718,594.38. Following the completion of the transaction, the insider now directly owns 104,414 shares of the company’s stock, valued at approximately $7,257,817.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,477 shares of company stock worth $12,842,978 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of a number of research analyst reports. Wedbush initiated coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price for the company. Piper Sandler cut their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Benchmark raised their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Bank of America cut their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.32.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $72.66 on Friday. The firm’s 50-day simple moving average is $67.90 and its 200-day simple moving average is $62.81. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $74.77. The firm has a market cap of $22.36 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 6.22 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The firm 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 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 earnings per share. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

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.