Envestnet Asset Management Inc. Has $3.59 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Envestnet Asset Management Inc. cut its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,036 shares of the company’s stock after selling 2,729 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Zoom Video Communications were worth $3,593,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. AlphaCrest Capital Management LLC grew its holdings in Zoom Video Communications by 17.4% in the first quarter. AlphaCrest Capital Management LLC now owns 3,150 shares of the company’s stock worth $369,000 after purchasing an additional 466 shares during the period. MetLife Investment Management LLC bought a new position in shares of Zoom Video Communications in the first quarter valued at $1,652,000. Panagora Asset Management Inc. lifted its stake in shares of Zoom Video Communications by 45.5% in the first quarter. Panagora Asset Management Inc. now owns 10,985 shares of the company’s stock valued at $1,288,000 after buying an additional 3,434 shares in the last quarter. Cibc World Market Inc. lifted its stake in shares of Zoom Video Communications by 11.3% in the first quarter. Cibc World Market Inc. now owns 4,364 shares of the company’s stock valued at $512,000 after buying an additional 442 shares in the last quarter. Finally, Prudential PLC bought a new position in shares of Zoom Video Communications in the first quarter valued at $263,000. 52.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 11,049 shares of the company’s stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $68.13, for a total transaction of $752,768.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Aparna Bawa sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $73.24, for a total value of $512,680.00. Following the sale, the chief operating officer now directly owns 42,639 shares of the company’s stock, valued at approximately $3,122,880.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 11,049 shares of the company’s stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $68.13, for a total transaction of $752,768.37. The disclosure for this sale can be found here. Insiders sold 100,669 shares of company stock worth $6,910,705 in the last three months. 11.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ZM. Benchmark reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 28th. Mizuho reissued a “buy” rating and set a $100.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 28th. Royal Bank of Canada raised their price target on shares of Zoom Video Communications from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Rosenblatt Securities started coverage on shares of Zoom Video Communications in a research report on Thursday, March 23rd. They set a “neutral” rating and a $75.00 price target on the stock. Finally, Piper Sandler lifted their price objective on shares of Zoom Video Communications from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.70.

Zoom Video Communications Stock Performance

Shares of ZM opened at $66.03 on Tuesday. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 206.34, a PEG ratio of 3.42 and a beta of -0.22. Zoom Video Communications, Inc. has a fifty-two week low of $60.45 and a fifty-two week high of $124.05. The firm has a 50 day moving average price of $67.47 and a 200-day moving average price of $71.70.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.43). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. Zoom Video Communications had a return on equity of 2.70% and a net margin of 2.36%. As a group, equities research analysts predict that Zoom Video Communications, Inc. will post 0.74 earnings per share for the current year.

Zoom Video Communications Profile

(Get Rating)

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.