Stratos Wealth Partners LTD. lessened its holdings in shares of Zoom Video Communications Inc (NASDAQ:ZM) by 48.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,153 shares of the company’s stock after selling 4,808 shares during the period. Stratos Wealth Partners LTD.’s holdings in Zoom Video Communications were worth $1,306,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Zoom Video Communications in the 1st quarter valued at approximately $380,000. M&T Bank Corp grew its stake in shares of Zoom Video Communications by 13.2% in the 1st quarter. M&T Bank Corp now owns 3,395 shares of the company’s stock valued at $496,000 after purchasing an additional 395 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $16,376,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $6,313,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Zoom Video Communications by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 22,048 shares of the company’s stock valued at $1,501,000 after purchasing an additional 3,171 shares during the period. 28.68% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on ZM. Needham & Company LLC increased their price target on Zoom Video Communications from $140.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Stephens restated a “neutral” rating and set a $220.00 price target on shares of Zoom Video Communications in a research report on Monday, July 20th. FBN Securities upgraded Zoom Video Communications from a “sector perform” rating to an “outperform” rating and set a $250.00 price target on the stock in a research report on Wednesday, June 3rd. BTIG Research reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Thursday, April 23rd. Finally, Oppenheimer began coverage on Zoom Video Communications in a report on Tuesday, June 2nd. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Zoom Video Communications presently has an average rating of “Hold” and an average price target of $209.43.
ZM stock opened at $253.91 on Friday. The business’s fifty day moving average is $252.33 and its 200-day moving average is $159.35. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.07. The company has a market cap of $71.63 billion, a P/E ratio of 1,493.59, a price-to-earnings-growth ratio of 12.26 and a beta of -1.48. Zoom Video Communications Inc has a twelve month low of $60.97 and a twelve month high of $281.00.
Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.19. Zoom Video Communications had a net margin of 6.04% and a return on equity of 6.29%. The business had revenue of $328.20 million during the quarter, compared to analysts’ expectations of $203.53 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s quarterly revenue was up 169.0% on a year-over-year basis. Research analysts anticipate that Zoom Video Communications Inc will post 0.82 earnings per share for the current fiscal year.
In other Zoom Video Communications news, CMO Janine Pelosi sold 9,375 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $252.53, for a total transaction of $2,367,468.75. Following the completion of the transaction, the chief marketing officer now owns 10,763 shares in the company, valued at approximately $2,717,980.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carl M. Eschenbach sold 380,967 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $214.29, for a total value of $81,637,418.43. Following the transaction, the director now owns 41,500 shares of the company’s stock, valued at approximately $8,893,035. The disclosure for this sale can be found here. In the last 90 days, insiders sold 795,238 shares of company stock valued at $174,536,223. 24.25% of the stock is owned by corporate insiders.
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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