Russell Investments Group Ltd. Grows Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Russell Investments Group Ltd. increased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,245 shares of the company’s stock after buying an additional 22,897 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Zoom Video Communications worth $19,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AM Squared Ltd acquired a new stake in Zoom Video Communications in the third quarter valued at about $28,000. Allworth Financial LP lifted its position in Zoom Video Communications by 101.4% in the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after purchasing an additional 282 shares during the period. Rakuten Securities Inc. acquired a new stake in Zoom Video Communications in the fourth quarter valued at about $43,000. GAMMA Investing LLC acquired a new stake in Zoom Video Communications in the fourth quarter valued at about $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Zoom Video Communications by 134.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock valued at $51,000 after purchasing an additional 404 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ZM shares. Mizuho reduced their price target on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Piper Sandler lifted their price target on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. BNP Paribas downgraded shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a research report on Thursday, January 18th. Rosenblatt Securities upgraded 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, April 18th. Finally, Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications Stock Up 2.0 %

Shares of NASDAQ ZM opened at $62.83 on Friday. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The firm has a fifty day moving average of $64.61 and a 200-day moving average of $65.72. The stock has a market capitalization of $19.32 billion, a PE ratio of 30.80 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 816 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, COO Aparna Bawa sold 816 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $66.60, for a total value of $54,345.60. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,734.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 1,553 shares of the business’s 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 completion of the transaction, the insider now owns 71,956 shares in the company, valued at approximately $5,036,920. The disclosure for this sale can be found here. In the last three months, insiders sold 93,224 shares of company stock valued at $5,872,091. Company 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.