Rhumbline Advisers raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 25.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 251,031 shares of the company’s stock after buying an additional 50,171 shares during the period. Rhumbline Advisers’ holdings in Zoom Video Communications were worth $27,104,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new position in Zoom Video Communications in the 2nd quarter valued at $26,000. Global Wealth Management Investment Advisory Inc. boosted its position in shares of Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Wagner Wealth Management LLC bought a new position in shares of Zoom Video Communications in the 2nd quarter worth $32,000. Covestor Ltd boosted its position in shares of Zoom Video Communications by 76.7% in the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock worth $46,000 after purchasing an additional 171 shares during the last quarter. Finally, Glassman Wealth Services boosted its position in shares of Zoom Video Communications by 229.8% in the 2nd quarter. Glassman Wealth Services now owns 465 shares of the company’s stock worth $50,000 after purchasing an additional 324 shares during the last quarter. 52.86% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
ZM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Zoom Video Communications from $95.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday. Evercore ISI reduced their target price on Zoom Video Communications from $95.00 to $85.00 in a report on Tuesday. Benchmark reduced their target price on Zoom Video Communications from $118.00 to $102.00 in a report on Tuesday. Wells Fargo & Company reduced their target price on Zoom Video Communications from $95.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Argus lowered Zoom Video Communications from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $115.86.
Zoom Video Communications Stock Performance
Zoom Video Communications (NASDAQ:ZM – Get Rating) last released its earnings results on Monday, November 21st. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. Zoom Video Communications’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 1.32 earnings per share for the current fiscal year.
Insider Activity at Zoom Video Communications
In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction that occurred on Saturday, October 8th. The stock was sold at an average price of $71.59, for a total transaction of $169,954.66. Following the transaction, the insider now owns 15,869 shares of the company’s stock, valued at $1,136,061.71. The sale was disclosed in a document filed with the SEC, which is available through this link. 11.24% of the stock is owned by company insiders.
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.
- Get a free copy of the StockNews.com research report on Zoom Video Communications (ZM)
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