IFM Investors Pty Ltd Buys 632 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

IFM Investors Pty Ltd boosted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,506 shares of the company’s stock after acquiring an additional 632 shares during the quarter. IFM Investors Pty Ltd’s holdings in Zoom Video Communications were worth $3,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Zoom Video Communications by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after buying an additional 721,923 shares during the period. ARK Investment Management LLC lifted its holdings in 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 worth $788,463,000 after buying an additional 781,663 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Zoom Video Communications by 3.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after acquiring an additional 216,768 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Zoom Video Communications by 4.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock worth $434,785,000 after acquiring an additional 233,321 shares during the period. Finally, FIL Ltd raised its position in shares of Zoom Video Communications by 1.3% in the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after acquiring an additional 40,456 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lowered their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Jefferies Financial Group assumed coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target on the stock. Mizuho reduced 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. Finally, BNP Paribas downgraded Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.56.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded up $0.96 during trading on Friday, hitting $62.00. 2,801,169 shares of the company were exchanged, compared to its average volume of 2,752,088. The firm has a market capitalization of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07. The company has a fifty day moving average price of $64.57 and a 200-day moving average price of $65.78. Zoom Video Communications, Inc. has a 12-month low of $58.87 and a 12-month high of $75.90.

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

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 21,968 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $119,036.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,421 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $63.69, for a total value of $154,193.49. Following the transaction, the chief executive officer now directly owns 90,001 shares in the company, valued at $5,732,163.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 21,968 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $119,036.04. The disclosure for this sale can be found here. Insiders sold a total of 93,224 shares of company stock worth $5,872,091 over the last ninety days. Company insiders own 11.28% of the company’s stock.

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.