ProShare Advisors LLC Buys 36,176 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)


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ProShare Advisors LLC lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 26.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,357 shares of the company’s stock after purchasing an additional 36,176 shares during the quarter. ProShare Advisors LLC’s holdings in Zoom Video Communications were worth $57,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. grew its holdings in Zoom Video Communications by 20.2% during the 4th quarter. BlackRock Inc. now owns 10,716,200 shares of the company’s stock worth $3,614,789,000 after acquiring an additional 1,804,237 shares during the last quarter. SB Management Ltd bought a new stake in Zoom Video Communications during the 3rd quarter worth approximately $1,800,851,000. State Street Corp boosted its stake in shares of Zoom Video Communications by 29.9% in the 3rd quarter. State Street Corp now owns 3,479,409 shares of the company’s stock valued at $1,635,705,000 after purchasing an additional 801,813 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Zoom Video Communications by 16.4% in the 4th quarter. First Trust Advisors LP now owns 1,453,215 shares of the company’s stock valued at $490,198,000 after purchasing an additional 205,186 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Zoom Video Communications by 44,853.3% in the 4th quarter. Jennison Associates LLC now owns 1,354,892 shares of the company’s stock valued at $457,032,000 after purchasing an additional 1,351,878 shares during the last quarter. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Bart Swanson sold 2,000 shares of the stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $368.45, for a total value of $736,900.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $736,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan Chadwick sold 10,000 shares of the stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $400.40, for a total transaction of $4,004,000.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $4,004,000. The disclosure for this sale can be found here. Insiders have sold 152,284 shares of company stock valued at $59,679,622 in the last quarter. Company insiders own 24.25% of the company’s stock.

A number of equities research analysts have recently commented on ZM shares. Zacks Investment Research raised shares of Zoom Video Communications from a “hold” rating to a “strong-buy” rating and set a $439.00 price objective on the stock in a research note on Tuesday, February 2nd. Morgan Stanley upped their price objective on shares of Zoom Video Communications from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 1st. Wells Fargo & Company reduced their price objective on shares of Zoom Video Communications from $465.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 1st. Rosenblatt Securities reduced their price objective on shares of Zoom Video Communications from $450.00 to $435.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 1st. Finally, Credit Suisse Group upped their price objective on shares of Zoom Video Communications from $315.00 to $340.00 and gave the company an “underperform” rating in a research note on Tuesday, December 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $435.17.

Shares of NASDAQ:ZM opened at $394.34 on Tuesday. The firm has a market capitalization of $112.78 billion, a PE ratio of 505.56, a P/E/G ratio of 12.42 and a beta of -1.46. Zoom Video Communications, Inc. has a twelve month low of $97.02 and a twelve month high of $588.84. The company has a 50-day moving average price of $390.00 and a two-hundred day moving average price of $406.59.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Sunday, November 29th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.23. The firm had revenue of $777.20 million during the quarter, compared to analyst estimates of $694.13 million. Zoom Video Communications had a net margin of 17.10% and a return on equity of 27.93%. The company’s quarterly revenue was up 366.5% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. Sell-side analysts expect that Zoom Video Communications, Inc. will post 1.83 EPS for the current year.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company's product portfolio includes 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables sharing messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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