Martingale Asset Management L P Invests $308,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Martingale Asset Management L P acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) during the second quarter, Holdings Channel reports. The firm acquired 2,852 shares of the company’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Zoom Video Communications during the second quarter worth $26,000. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Zoom Video Communications by 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Covestor Ltd grew its holdings in shares of Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after buying an additional 171 shares in the last quarter. Glassman Wealth Services grew its holdings in shares of Zoom Video Communications by 229.8% during the second quarter. Glassman Wealth Services now owns 465 shares of the company’s stock valued at $50,000 after buying an additional 324 shares in the last quarter. Finally, Focused Wealth Management Inc grew its holdings in shares of Zoom Video Communications by 1,875.0% during the second quarter. Focused Wealth Management Inc now owns 632 shares of the company’s stock valued at $68,000 after buying an additional 600 shares in the last quarter. 52.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction dated Saturday, October 8th. The stock was sold at an average price of $71.59, for a total transaction of $169,954.66. Following the completion of the transaction, the insider now owns 15,869 shares of the company’s stock, valued at approximately $1,136,061.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.24% of the stock is owned by insiders.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $76.14 on Thursday. Zoom Video Communications, Inc. has a twelve month low of $70.43 and a twelve month high of $235.97. The stock has a market capitalization of $22.66 billion, a PE ratio of 33.39, a P/E/G ratio of 3.01 and a beta of -0.29. The stock has a 50-day simple moving average of $78.58 and a 200 day simple moving average of $93.66.

Zoom Video Communications (NASDAQ:ZMGet Rating) last posted its quarterly earnings data on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.23. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Zoom Video Communications, Inc. will post 1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ZM shares. Royal Bank of Canada lowered their price target on Zoom Video Communications from $150.00 to $130.00 in a report on Tuesday, August 23rd. Credit Suisse Group began coverage on Zoom Video Communications in a report on Friday, September 23rd. They set a “neutral” rating and a $83.00 price target on the stock. KeyCorp began coverage on Zoom Video Communications in a research note on Monday, September 12th. They issued a “sector weight” rating on the stock. BTIG Research downgraded Zoom Video Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 23rd. Finally, Piper Sandler lowered their target price on Zoom Video Communications from $84.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $115.86.

About Zoom Video Communications

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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.

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

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