BNP Paribas Arbitrage SNC lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) by 13.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 464,563 shares of the company’s stock after buying an additional 55,917 shares during the quarter. BNP Paribas Arbitrage SNC’s holdings in Zoom Video Communications were worth $31,535,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Money Concepts Capital Corp boosted its position in shares of Zoom Video Communications by 821.2% in the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after acquiring an additional 427 shares during the period. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Neo Ivy Capital Management increased its position in shares of Zoom Video Communications by 56.8% in the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Covestor Ltd raised its stake in Zoom Video Communications by 76.7% in the first quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after purchasing an additional 171 shares in the last quarter. Finally, Kistler Tiffany Companies LLC grew its stake in Zoom Video Communications by 32,550.0% during the first quarter. Kistler Tiffany Companies LLC now owns 653 shares of the company’s stock worth $48,000 after buying an additional 651 shares in the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.
Wall Street Analyst Weigh In
ZM has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Zoom Video Communications from $75.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, October 4th. Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, August 22nd. Mizuho reiterated a “buy” rating and set a $100.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, August 22nd. Finally, HSBC began coverage on shares of Zoom Video Communications in a research report on Friday, September 15th. They set a “buy” rating and a $83.00 price objective for the company. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average target price of $81.55.
Insider Transactions at Zoom Video Communications
In other news, CEO Eric S. Yuan sold 11,208 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $59.87, for a total transaction of $671,022.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 11,208 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $59.87, for a total value of $671,022.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly Steckelberg sold 10,960 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $68.29, for a total value of $748,458.40. The disclosure for this sale can be found here. Insiders sold a total of 157,375 shares of company stock valued at $10,417,755 over the last three months. Corporate insiders own 11.28% of the company’s stock.
Zoom Video Communications Price Performance
Shares of Zoom Video Communications stock opened at $63.74 on Thursday. Zoom Video Communications, Inc. has a one year low of $58.87 and a one year high of $85.23. The stock’s 50-day moving average is $65.31 and its 200 day moving average is $67.04. The firm has a market cap of $19.18 billion, a price-to-earnings ratio of 144.87, a PEG ratio of 1.04 and a beta of -0.16.
Zoom Video Communications (NASDAQ:ZM – Get Free Report) last issued its earnings results on Monday, August 21st. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.06 by $0.28. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Zoom Video Communications had a return on equity of 3.51% and a net margin of 3.17%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.28 EPS. On average, sell-side analysts expect that Zoom Video Communications, Inc. will post 1.77 EPS for the current fiscal year.
Zoom Video Communications 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.
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