Redpoint Investment Management Pty Ltd Has $1.61 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)


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Redpoint Investment Management Pty Ltd lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 57.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,781 shares of the company’s stock after acquiring an additional 1,753 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Zoom Video Communications were worth $1,613,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Rocky Mountain Advisers LLC purchased a new position in shares of Zoom Video Communications during the 3rd quarter worth approximately $26,000. Chiron Capital Management LLC acquired a new position in shares of Zoom Video Communications in the third quarter valued at approximately $28,000. CNB Bank acquired a new position in shares of Zoom Video Communications in the third quarter valued at approximately $37,000. Earnest Partners LLC acquired a new position in shares of Zoom Video Communications in the third quarter valued at approximately $38,000. Finally, Winch Advisory Services LLC boosted its stake in shares of Zoom Video Communications by 340.0% in the third quarter. Winch Advisory Services LLC now owns 88 shares of the company’s stock valued at $41,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

Shares of NASDAQ:ZM opened at $364.63 on Thursday. The firm has a market capitalization of $104.29 billion, a PE ratio of 467.47, a P/E/G ratio of 12.42 and a beta of -1.46. The business has a 50-day moving average of $389.12 and a two-hundred day moving average of $378.29. Zoom Video Communications, Inc. has a 12 month low of $70.26 and a 12 month high of $588.84.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Sunday, November 29th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.23. The company had revenue of $777.20 million during the quarter, compared to analyst estimates of $694.13 million. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The firm’s revenue was up 366.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, research analysts predict that Zoom Video Communications, Inc. will post 1.83 EPS for the current year.

In other Zoom Video Communications news, CEO Eric S. Yuan sold 70,142 shares of the business’s stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $401.87, for a total transaction of $28,187,965.54. Following the transaction, the chief executive officer now owns 177,285 shares in the company, valued at $71,245,522.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 69,742 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $490.38, for a total value of $34,200,081.96. Following the transaction, the chief executive officer now owns 70,142 shares in the company, valued at approximately $34,396,233.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,884 shares of company stock worth $74,937,633. 24.25% of the stock is currently owned by insiders.

A number of research firms recently weighed in on ZM. Rosenblatt Securities decreased their price target on Zoom Video Communications from $450.00 to $435.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 1st. DA Davidson lifted their price target on Zoom Video Communications from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Bank of America lifted their price target on Zoom Video Communications from $475.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. JPMorgan Chase & Co. downgraded Zoom Video Communications from an “overweight” rating to a “neutral” rating and set a $450.00 price target on the stock. in a research note on Wednesday, December 9th. Finally, The Goldman Sachs Group boosted their target price on Zoom Video Communications from $402.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 1st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $436.54.

Zoom Video Communications Company 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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