Vestmark Advisory Solutions Inc. Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vestmark Advisory Solutions Inc. bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 214,716 shares of the company’s stock, valued at approximately $15,440,000. Zoom Video Communications accounts for 0.8% of Vestmark Advisory Solutions Inc.’s investment portfolio, making the stock its 28th biggest holding. Vestmark Advisory Solutions Inc. owned approximately 0.07% of Zoom Video Communications as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ZM. AM Squared Ltd acquired a new position in Zoom Video Communications during the third quarter worth about $28,000. Allworth Financial LP boosted its position in Zoom Video Communications by 101.4% during the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after acquiring an additional 282 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Zoom Video Communications during the fourth quarter worth about $43,000. GAMMA Investing LLC acquired a new position in Zoom Video Communications during the fourth quarter worth about $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Zoom Video Communications by 134.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock worth $51,000 after acquiring an additional 404 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho reduced their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. BNP Paribas downgraded shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research note on Thursday, January 18th. Piper Sandler lifted their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. JPMorgan Chase & Co. reduced their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus target price of $77.56.

Insiders Place Their Bets

In other Zoom Video Communications news, CAO Shane Crehan sold 1,931 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $135,170.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the transaction, the insider now owns 71,956 shares in the company, valued at approximately $5,036,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Shane Crehan sold 1,931 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $135,170.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,231 shares of company stock worth $6,179,621. 11.28% of the stock is owned by insiders.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded down $1.01 during trading hours on Friday, hitting $61.82. The company had a trading volume of 3,041,928 shares, compared to its average volume of 2,863,555. The company’s 50-day moving average is $64.58 and its two-hundred day moving average is $65.71. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90. The company has a market cap of $19.01 billion, a P/E ratio of 30.30 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

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.