Livforsakringsbolaget Skandia Omsesidigt Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 134.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 704 shares of the company’s stock after buying an additional 404 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Zoom Video Communications were worth $51,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. boosted its position in 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 valued at $34,000 after buying an additional 114 shares during the period. Neo Ivy Capital Management boosted its stake in shares of Zoom Video Communications by 56.8% during the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Covestor Ltd boosted its stake in shares of Zoom Video Communications by 76.7% during the 1st 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. AM Squared Ltd bought a new stake in shares of Zoom Video Communications during the 3rd quarter valued at about $28,000. Finally, Money Concepts Capital Corp boosted its stake in shares of Zoom Video Communications by 821.2% during the 4th quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after purchasing an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $59.45 on Friday. The stock has a market capitalization of $18.28 billion, a PE ratio of 29.14 and a beta of -0.07. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The company has a 50-day simple moving average of $64.82 and a two-hundred day simple moving average of $65.95.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. As a group, equities research analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZM shares. Piper Sandler lifted their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. JPMorgan Chase & Co. cut their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. BNP Paribas lowered shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research note on Thursday, January 18th. Mizuho cut their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Rosenblatt Securities raised shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $77.56.

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total transaction of $297,215.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Eric S. Yuan sold 2,421 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $63.69, for a total transaction of $154,193.49. Following the completion of the transaction, the chief executive officer now directly owns 90,001 shares of the company’s stock, valued at $5,732,163.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total transaction of $297,215.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,256 shares of company stock valued at $4,550,057. Insiders own 11.28% of the company’s stock.

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.