Pacer Advisors Inc. bought a new position in shares of Zoom Video Communications Inc (NASDAQ:ZM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,271 shares of the company’s stock, valued at approximately $3,365,000.
Other institutional investors have also recently added to or reduced their stakes in the company. SlateStone Wealth LLC purchased a new stake in shares of Zoom Video Communications during the second quarter worth approximately $505,000. V Wealth Advisors LLC purchased a new stake in shares of Zoom Video Communications during the second quarter worth approximately $1,339,000. Trustcore Financial Services LLC increased its position in shares of Zoom Video Communications by 23.5% during the second quarter. Trustcore Financial Services LLC now owns 672 shares of the company’s stock worth $170,000 after purchasing an additional 128 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new stake in shares of Zoom Video Communications during the second quarter worth approximately $348,000. Finally, CIBC Asset Management Inc increased its position in shares of Zoom Video Communications by 106.2% during the second quarter. CIBC Asset Management Inc now owns 20,459 shares of the company’s stock worth $5,187,000 after purchasing an additional 10,537 shares in the last quarter. 28.68% of the stock is owned by hedge funds and other institutional investors.
ZM opened at $253.91 on Friday. The stock’s 50-day moving average price is $252.33 and its 200 day moving average price is $159.35. Zoom Video Communications Inc has a 12-month low of $60.97 and a 12-month high of $281.00. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.07. The firm has a market cap of $70.53 billion, a price-to-earnings ratio of 1,470.59, a PEG ratio of 12.14 and a beta of -1.48.
Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Tuesday, June 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.19. Zoom Video Communications had a return on equity of 6.29% and a net margin of 6.04%. The firm had revenue of $328.20 million for the quarter, compared to analyst estimates of $203.53 million. During the same quarter in the prior year, the company earned $0.03 EPS. Zoom Video Communications’s revenue was up 169.0% on a year-over-year basis. On average, research analysts forecast that Zoom Video Communications Inc will post 0.82 earnings per share for the current year.
Several brokerages have issued reports on ZM. Goldman Sachs Group upped their target price on Zoom Video Communications from $156.00 to $187.00 and gave the company a “sell” rating in a report on Wednesday, June 24th. They noted that the move was a valuation call. Rosenblatt Securities upped their target price on Zoom Video Communications from $150.00 to $210.00 and gave the company a “buy” rating in a report on Monday, June 1st. Argus restated a “hold” rating on shares of Zoom Video Communications in a report on Wednesday, April 8th. Oppenheimer began coverage on Zoom Video Communications in a report on Tuesday, June 2nd. They issued a “hold” rating for the company. Finally, Bank of America upped their target price on Zoom Video Communications from $165.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Zoom Video Communications presently has an average rating of “Hold” and an average target price of $209.43.
In related news, Director Kimberly Hammonds sold 3,125 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $265.88, for a total transaction of $830,875.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $830,875. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Janine Pelosi sold 9,375 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $162.46, for a total value of $1,523,062.50. Following the transaction, the chief marketing officer now directly owns 10,069 shares in the company, valued at approximately $1,635,809.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 795,238 shares of company stock worth $174,536,223. 24.25% of the stock is owned by corporate insiders.
Zoom Video Communications Profile
Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
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