Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Zoom Video Communications Inc (NASDAQ:ZM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,531 shares of the company’s stock, valued at approximately $3,938,000.
Several other large investors also recently modified their holdings of ZM. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Zoom Video Communications in the first quarter worth $380,000. M&T Bank Corp raised its holdings in shares of Zoom Video Communications by 13.2% during the first quarter. M&T Bank Corp now owns 3,395 shares of the company’s stock worth $496,000 after purchasing an additional 395 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Zoom Video Communications during the second quarter valued at $16,376,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at about $6,313,000. Finally, Bank of New York Mellon Corp lifted its holdings 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 buying an additional 3,171 shares during the period. Hedge funds and other institutional investors own 28.68% of the company’s stock.
NASDAQ ZM opened at $253.91 on Friday. Zoom Video Communications Inc has a fifty-two week low of $60.97 and a fifty-two week high of $281.00. The firm has a market capitalization of $71.63 billion, a P/E ratio of 1,493.59, a price-to-earnings-growth ratio of 12.14 and a beta of -1.48. The stock’s fifty day moving average is $252.33 and its two-hundred day moving average is $159.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.72 and a current ratio of 1.72.
Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.20 earnings per share for the quarter, beating the 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 firm had revenue of $328.20 million for the quarter, compared to analysts’ expectations of $203.53 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s revenue was up 169.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Zoom Video Communications Inc will post 0.82 EPS for the current year.
In other news, Director Bart Swanson sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $215.00, for a total value of $645,000.00. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $645,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Santiago Subotovsky sold 73,168 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $240.60, for a total transaction of $17,604,220.80. Following the completion of the transaction, the director now owns 219,843 shares in the company, valued at $52,894,225.80. The disclosure for this sale can be found here. In the last three months, insiders sold 795,238 shares of company stock valued at $174,536,223. Corporate insiders own 24.25% of the company’s stock.
Several equities analysts have recently weighed in on ZM shares. FBN Securities raised shares of Zoom Video Communications from a “sector perform” rating to an “outperform” rating and set a $250.00 target price for the company in a report on Wednesday, June 3rd. Citigroup lifted their price objective on shares of Zoom Video Communications from $186.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Goldman Sachs Group increased their target price on shares of Zoom Video Communications from $156.00 to $187.00 and gave the stock a “sell” rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. Royal Bank of Canada restated a “buy” rating and issued a $250.00 price target on shares of Zoom Video Communications in a research note on Tuesday, June 16th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Zoom Video Communications currently has a consensus rating of “Hold” and a consensus target price of $209.43.
Zoom Video Communications Company 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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