CNB Bank grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 276.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 456 shares of the company’s stock after buying an additional 335 shares during the period. CNB Bank’s holdings in Zoom Video Communications were worth $147,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ZM. Louisiana State Employees Retirement System bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $2,867,000. Baldwin Brothers Inc. MA raised its holdings in Zoom Video Communications by 16.0% during the fourth quarter. Baldwin Brothers Inc. MA now owns 1,351 shares of the company’s stock worth $456,000 after purchasing an additional 186 shares in the last quarter. Central Bank & Trust Co. raised its holdings in Zoom Video Communications by 29.2% during the fourth quarter. Central Bank & Trust Co. now owns 681 shares of the company’s stock worth $230,000 after purchasing an additional 154 shares in the last quarter. Polianta Ltd raised its holdings in Zoom Video Communications by 40.0% during the fourth quarter. Polianta Ltd now owns 3,500 shares of the company’s stock worth $1,180,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Hamilton Lane Advisors LLC raised its holdings in Zoom Video Communications by 2,034.3% during the fourth quarter. Hamilton Lane Advisors LLC now owns 94,911 shares of the company’s stock worth $32,015,000 after purchasing an additional 90,464 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors.
In other Zoom Video Communications news, COO Aparna Bawa sold 2,593 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $325.28, for a total transaction of $843,451.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 80,529 shares of the company’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $347.97, for a total transaction of $28,021,676.13. Following the sale, the chief executive officer now directly owns 11,545 shares in the company, valued at $4,017,313.65. The disclosure for this sale can be found here. Insiders have sold 432,606 shares of company stock worth $149,193,960 over the last ninety days. Insiders own 24.25% of the company’s stock.
Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Sunday, February 28th. The company reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.43. The business had revenue of $882.49 million for the quarter, compared to analysts’ expectations of $810.97 million. Zoom Video Communications had a net margin of 17.10% and a return on equity of 27.93%. The firm’s revenue for the quarter was up 368.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 1.83 EPS for the current year.
ZM has been the topic of several recent analyst reports. Bank of America initiated coverage on Zoom Video Communications in a report on Tuesday, April 20th. They set a “buy” rating on the stock. Rosenblatt Securities boosted their target price on Zoom Video Communications from $350.00 to $400.00 and gave the stock a “neutral” rating in a report on Monday, March 8th. Zacks Investment Research cut Zoom Video Communications from a “buy” rating to a “hold” rating and set a $354.00 price target on the stock. in a report on Monday, March 8th. Morgan Stanley upped their price target on Zoom Video Communications from $390.00 to $420.00 and gave the company an “equal weight” rating in a report on Monday, March 8th. Finally, Daiwa Capital Markets assumed coverage on Zoom Video Communications in a report on Wednesday, March 31st. They issued a “sell” rating and a $250.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $428.81.
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 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 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 to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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