GraniteShares Advisors LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

GraniteShares Advisors LLC bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,942 shares of the company’s stock, valued at approximately $571,000.

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

Zoom Video Communications Trading Down 1.6 %

Shares of NASDAQ:ZM traded down $0.96 during trading on Tuesday, hitting $59.28. 2,240,482 shares of the company were exchanged, compared to its average volume of 3,348,535. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 29.32 and a beta of -0.07. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The firm has a fifty day moving average price of $65.21 and a two-hundred day moving average price of $66.19.

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

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 1,553 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the sale, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the sale, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 19,207 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $67.00, for a total value of $1,286,869.00. Following the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $132,526. The disclosure for this sale can be found here. Insiders sold 85,456 shares of company stock worth $5,539,710 in the last ninety days. 11.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ZM shares. BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a research note on Thursday, January 18th. Jefferies Financial Group began coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company. Mizuho lowered their price objective on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Piper Sandler lifted their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.56.

Zoom Video Communications Company Profile

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.