Fifth Third Bancorp bought a new position in shares of Zoom Video Communications Inc (NASDAQ:ZM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 585 shares of the company’s stock, valued at approximately $85,000.
A number of other hedge funds also recently made changes to their positions in ZM. Artisan Partners Limited Partnership grew its stake in shares of Zoom Video Communications by 129.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,192,614 shares of the company’s stock worth $489,385,000 after acquiring an additional 4,061,148 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Zoom Video Communications by 721.1% during the 4th quarter. Baillie Gifford & Co. now owns 2,463,345 shares of the company’s stock worth $167,606,000 after acquiring an additional 2,163,345 shares in the last quarter. Wildcat Capital Management LLC bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $77,549,000. FIL Ltd grew its stake in shares of Zoom Video Communications by 48.0% during the 4th quarter. FIL Ltd now owns 2,744,885 shares of the company’s stock worth $186,762,000 after acquiring an additional 890,787 shares in the last quarter. Finally, Abdiel Capital Advisors LP grew its stake in shares of Zoom Video Communications by 306.5% during the 4th quarter. Abdiel Capital Advisors LP now owns 1,070,137 shares of the company’s stock worth $72,812,000 after acquiring an additional 806,897 shares in the last quarter. Hedge funds and other institutional investors own 24.41% of the company’s stock.
A number of equities analysts have commented on the stock. BidaskClub raised shares of Zoom Video Communications from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Morgan Stanley reissued a “hold” rating and set a $105.00 target price on shares of Zoom Video Communications in a report on Thursday, April 9th. Zacks Investment Research downgraded Zoom Video Communications from a “buy” rating to a “hold” rating and set a $184.00 target price for the company. in a report on Monday. Argus reissued a “hold” rating on shares of Zoom Video Communications in a report on Wednesday, April 8th. Finally, Guggenheim lifted their target price on Zoom Video Communications from $90.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $122.50.
ZM stock opened at $172.18 on Friday. The company has a market cap of $48.46 billion and a PE ratio of 2,152.52. The business has a 50-day simple moving average of $147.93 and a 200 day simple moving average of $100.73. Zoom Video Communications Inc has a 52 week low of $60.97 and a 52 week high of $181.50. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.08.
Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, March 4th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.16. The firm had revenue of $188.25 million during the quarter, compared to the consensus estimate of $176.88 million. Zoom Video Communications had a return on equity of 3.30% and a net margin of 3.73%. The business’s revenue was up 77.9% on a year-over-year basis. On average, analysts anticipate that Zoom Video Communications Inc will post 0.02 EPS for the current fiscal year.
In other news, Director Kimberly Hammonds sold 3,125 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $110.78, for a total transaction of $346,187.50. Following the sale, the director now directly owns 3,125 shares in the company, valued at $346,187.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Janine Pelosi sold 31,850 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $107.92, for a total value of $3,437,252.00. Following the sale, the chief marketing officer now owns 195,112 shares in the company, valued at $21,056,487.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 746,211 shares of company stock valued at $99,785,087. Insiders own 24.25% of the company’s stock.
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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