Daiwa Securities Group Inc. Has $1.49 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Daiwa Securities Group Inc. cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 38.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,681 shares of the company’s stock after selling 12,811 shares during the period. Daiwa Securities Group Inc.’s holdings in Zoom Video Communications were worth $1,487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. AM Squared Ltd acquired a new stake in Zoom Video Communications during the third quarter worth about $28,000. Allworth Financial LP boosted its stake in shares of Zoom Video Communications by 101.4% in the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after purchasing an additional 282 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $43,000. HighMark Wealth Management LLC boosted its stake in shares of Zoom Video Communications by 105.9% in the 3rd quarter. HighMark Wealth Management LLC now owns 972 shares of the company’s stock valued at $68,000 after purchasing an additional 500 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Zoom Video Communications by 835.9% in the 4th quarter. Blue Trust Inc. now owns 1,226 shares of the company’s stock valued at $86,000 after purchasing an additional 1,095 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now directly owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the sale, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 21,968 shares of Zoom Video Communications stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at $119,036.04. The disclosure for this sale can be found here. Insiders have sold 93,224 shares of company stock valued at $5,872,091 in the last three months. 11.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZM shares. Rosenblatt Securities upgraded shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, April 18th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. Mizuho dropped their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Finally, Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Stock Up 3.5 %

NASDAQ:ZM opened at $61.62 on Wednesday. The company has a fifty day moving average of $64.68 and a 200-day moving average of $65.87. The firm has a market capitalization of $18.95 billion, a P/E ratio of 30.21 and a beta of -0.07. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90.

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

Zoom Video Communications Company 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.