OVERSEA CHINESE BANKING Corp Ltd Raises Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 144.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,510 shares of the company’s stock after buying an additional 5,615 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Zoom Video Communications were worth $684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZM. Global Wealth Management Investment Advisory Inc. boosted its position in Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Neo Ivy Capital Management boosted its position in Zoom Video Communications by 56.8% during the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Covestor Ltd boosted its position in Zoom Video Communications by 76.7% during the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after acquiring an additional 171 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Zoom Video Communications by 1.8% in the 1st quarter. MML Investors Services LLC now owns 9,550 shares of the company’s stock worth $705,000 after purchasing an additional 173 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Zoom Video Communications by 7.4% in the 3rd quarter. Harbour Investments Inc. now owns 2,535 shares of the company’s stock worth $177,000 after purchasing an additional 175 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ZM. Jefferies Financial Group began coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Piper Sandler raised their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a research note on Thursday, January 18th. Finally, Mizuho reduced their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Stock Down 0.8 %

Shares of Zoom Video Communications stock opened at $59.45 on Monday. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90. The business has a 50-day moving average price of $64.82 and a 200 day moving average price of $65.94. The firm has a market cap of $18.28 billion, a PE ratio of 29.14 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 2,421 shares of Zoom Video Communications stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the sale, the chief executive officer now directly owns 90,001 shares in the company, valued at approximately $5,732,163.69. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Aparna Bawa sold 816 shares of the business’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 in the company, valued at approximately $131,734.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 2,421 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the transaction, the chief executive officer now owns 90,001 shares in the company, valued at $5,732,163.69. The disclosure for this sale can be found here. Insiders sold a total of 71,256 shares of company stock worth $4,550,057 in the last 90 days. Corporate insiders own 11.28% of the company’s stock.

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.