Vontobel Holding Ltd. Raises Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vontobel Holding Ltd. boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 67,359 shares of the company’s stock after purchasing an additional 2,945 shares during the period. Vontobel Holding Ltd.’s holdings in Zoom Video Communications were worth $4,844,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ZM. Renaissance Technologies LLC boosted its holdings in shares of Zoom Video Communications by 61.0% in the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after acquiring an additional 2,444,294 shares in the last quarter. Norges Bank purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $98,156,000. Acadian Asset Management LLC boosted its holdings in shares of Zoom Video Communications by 639.9% in the third quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after acquiring an additional 1,408,908 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after acquiring an additional 1,000,005 shares in the last quarter. Finally, ARK Investment Management LLC boosted its holdings in shares of Zoom Video Communications by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after acquiring an additional 781,663 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Down 0.3 %

Zoom Video Communications stock opened at $59.08 on Thursday. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The firm has a fifty day moving average of $65.02 and a 200-day moving average of $66.07. The firm has a market capitalization of $18.17 billion, a P/E ratio of 28.96 and a beta of -0.07.

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

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the transaction, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Santiago Subotovsky sold 2,067 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $65.88, for a total transaction of $136,173.96. Following the completion of the transaction, the director now owns 157,626 shares in the company, valued at $10,384,400.88. The disclosure for this sale can be found here. In the last three months, insiders sold 66,249 shares of company stock valued at $4,252,841. Corporate insiders own 11.28% of the company’s stock.

Analyst Ratings Changes

ZM has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Mizuho reduced their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Wells Fargo & Company downgraded shares of Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 20th. Finally, BNP Paribas lowered shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.56.

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.