Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Zoom Video Communications Inc (NASDAQ:ZM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,440 shares of the company’s stock, valued at approximately $365,000.
Several other institutional investors have also bought and sold shares of ZM. Morgan Stanley lifted its holdings in shares of Zoom Video Communications by 144.6% during the 1st quarter. Morgan Stanley now owns 12,187,772 shares of the company’s stock valued at $1,780,877,000 after acquiring an additional 7,205,678 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Zoom Video Communications by 191.0% in the first quarter. Baillie Gifford & Co. now owns 7,169,538 shares of the company’s stock worth $1,047,612,000 after purchasing an additional 4,706,193 shares during the period. BosValen Asset Management Ltd bought a new position in Zoom Video Communications in the 1st quarter valued at about $199,946,000. Advisor Group Holdings Inc. acquired a new position in Zoom Video Communications during the 1st quarter valued at about $12,557,000. Finally, Deutsche Bank AG raised its position in shares of Zoom Video Communications by 57.2% during the 1st quarter. Deutsche Bank AG now owns 967,995 shares of the company’s stock worth $141,443,000 after buying an additional 352,182 shares in the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.
ZM has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Zoom Video Communications from $260.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities boosted their target price on Zoom Video Communications from $260.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered Zoom Video Communications from a “strong-buy” rating to a “hold” rating and set a $281.00 price target for the company. in a research report on Friday, August 7th. Needham & Company LLC boosted their price objective on Zoom Video Communications from $230.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Credit Suisse Group upped their price objective on shares of Zoom Video Communications from $160.00 to $315.00 and gave the company an “underperform” rating in a research note on Tuesday. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $355.00.
In other Zoom Video Communications news, Director Kimberly Hammonds sold 3,125 shares of Zoom Video Communications stock in a transaction on Monday, June 8th. The shares were sold at an average price of $205.91, for a total transaction of $643,468.75. Following the completion of the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $643,468.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Santiago Subotovsky sold 73,168 shares of the company’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $240.60, for a total transaction of $17,604,220.80. Following the completion of the transaction, the director now owns 219,843 shares in the company, valued at $52,894,225.80. The disclosure for this sale can be found here. Insiders have sold 388,295 shares of company stock worth $95,509,890 over the last ninety days. Insiders own 24.25% of the company’s stock.
NASDAQ ZM traded down $27.72 during trading on Friday, hitting $353.60. The stock had a trading volume of 285,557 shares, compared to its average volume of 9,724,028. Zoom Video Communications Inc has a 12 month low of $60.97 and a 12 month high of $478.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.72 and a current ratio of 1.72. The company’s 50-day moving average price is $271.78 and its two-hundred day moving average price is $193.67. The company has a market capitalization of $119.49 billion, a PE ratio of 453.65, a P/E/G ratio of 20.41 and a beta of -1.24.
Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, August 31st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.47. The firm had revenue of $663.50 million for the quarter, compared to analyst estimates of $500.37 million. Zoom Video Communications had a net margin of 17.10% and a return on equity of 30.96%. The company’s revenue was up 354.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. As a group, equities analysts anticipate that Zoom Video Communications Inc will post 0.83 earnings per share for the current fiscal year.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
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