Private Asset Management Inc. Acquires Shares of 700 Zoom Video Communications, Inc. (NASDAQ:ZM)


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Private Asset Management Inc. acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 700 shares of the company’s stock, valued at approximately $225,000.

A number of other large investors also recently made changes to their positions in ZM. Oder Investment Management LLC purchased a new position in Zoom Video Communications during the fourth quarter valued at $25,000. Chiron Capital Management LLC purchased a new position in Zoom Video Communications during the third quarter valued at $28,000. tru Independence LLC purchased a new position in Zoom Video Communications during the fourth quarter valued at $32,000. Earnest Partners LLC purchased a new position in shares of Zoom Video Communications in the third quarter worth $38,000. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Zoom Video Communications by 119.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 224 shares of the company’s stock worth $38,000 after acquiring an additional 122 shares during the period. Institutional investors and hedge funds own 37.97% of the company’s stock.

In other news, CEO Eric S. Yuan sold 70,142 shares of the company’s stock in a transaction that occurred on Wednesday, January 20th. The stock was sold at an average price of $381.38, for a total transaction of $26,750,755.96. Following the transaction, the chief executive officer now owns 177,284 shares of the company’s stock, valued at $67,612,571.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Aparna Bawa sold 2,593 shares of the stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $320.05, for a total value of $829,889.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 434,712 shares of company stock worth $154,584,330. Insiders own 24.25% of the company’s stock.

Several analysts recently commented on the company. JPMorgan Chase & Co. lowered Zoom Video Communications from an “overweight” rating to a “neutral” rating and set a $450.00 price objective for the company. in a report on Wednesday, December 9th. Morgan Stanley lifted their price objective on Zoom Video Communications from $390.00 to $420.00 and gave the stock an “equal weight” rating in a report on Monday, March 8th. Rosenblatt Securities lifted their price objective on Zoom Video Communications from $350.00 to $400.00 and gave the stock a “neutral” rating in a report on Monday, March 8th. Zacks Investment Research lowered Zoom Video Communications from a “buy” rating to a “hold” rating and set a $354.00 price objective for the company. in a report on Monday, March 8th. Finally, Piper Sandler raised Zoom Video Communications from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $501.00 to $541.00 in a report on Monday, March 8th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $423.62.

Shares of ZM stock opened at $329.75 on Thursday. Zoom Video Communications, Inc. has a 1 year low of $112.50 and a 1 year high of $588.84. The stock’s 50 day simple moving average is $350.72 and its two-hundred day simple moving average is $409.76. The company has a market cap of $96.85 billion, a PE ratio of 414.21, a price-to-earnings-growth ratio of 12.42 and a beta of -1.46.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Sunday, February 28th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.43. The firm had revenue of $882.49 million for the quarter, compared to analysts’ expectations of $810.97 million. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The company’s quarterly revenue was up 368.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Equities research analysts expect that Zoom Video Communications, Inc. will post 1.83 earnings per share for the current fiscal year.

Zoom Video Communications Profile

Zoom Video Communications, Inc provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company's product portfolio includes 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables sharing messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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