Mackenzie Financial Corp Has $1.45 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mackenzie Financial Corp decreased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,098 shares of the company’s stock after selling 463 shares during the period. Mackenzie Financial Corp’s holdings in Zoom Video Communications were worth $1,445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZM. CWM LLC lifted its position in Zoom Video Communications by 96.2% during the 3rd quarter. CWM LLC now owns 2,975 shares of the company’s stock worth $208,000 after buying an additional 1,459 shares in the last quarter. AE Wealth Management LLC acquired a new position in Zoom Video Communications during the 3rd quarter worth about $219,000. Summit Global Investments acquired a new position in Zoom Video Communications during the 3rd quarter valued at about $204,000. State of Alaska Department of Revenue lifted its position in Zoom Video Communications by 1.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 42,925 shares of the company’s stock valued at $3,002,000 after purchasing an additional 715 shares during the period. Finally, Galvin Gaustad & Stein LLC lifted its position in Zoom Video Communications by 3.1% during the 3rd quarter. Galvin Gaustad & Stein LLC now owns 261,615 shares of the company’s stock valued at $18,297,000 after purchasing an additional 7,772 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Rosenblatt Securities upgraded shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, April 18th. Piper Sandler upped their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price on the stock. Finally, Mizuho cut their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $61.65 on Thursday. The business has a 50 day simple moving average of $64.63 and a 200 day simple moving average of $65.84. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The stock has a market cap of $18.96 billion, a price-to-earnings ratio of 30.22 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 2,421 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $63.69, for a total transaction of $154,193.49. Following the completion of the transaction, the chief executive officer now directly owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Eric S. Yuan sold 2,421 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $63.69, for a total transaction of $154,193.49. Following the completion of the transaction, the chief executive officer now directly owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,734.80. The disclosure for this sale can be found here. Insiders sold 93,224 shares of company stock valued at $5,872,091 in the last ninety days. 11.28% of the stock is currently owned by corporate insiders.

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.