Prudential PLC Has $462,000 Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Posted by Defense World Staff on May 19th, 2023

Prudential PLC raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 103.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,827 shares of the company’s stock after purchasing an additional 3,470 shares during the period. Prudential PLC’s holdings in Zoom Video Communications were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ZM. WealthPlan Investment Management LLC acquired a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $306,000. Daiwa Securities Group Inc. grew its stake in shares of Zoom Video Communications by 2.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 33,166 shares of the company’s stock worth $2,246,000 after acquiring an additional 793 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Zoom Video Communications during the 3rd quarter worth approximately $940,000. D.A. Davidson & CO. grew its stake in shares of Zoom Video Communications by 10.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,951 shares of the company’s stock worth $879,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Zoom Video Communications by 12.8% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 365,957 shares of the company’s stock worth $26,931,000 after acquiring an additional 41,405 shares in the last quarter. 52.96% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Trading Up 2.5 %

NASDAQ ZM opened at $69.53 on Friday. The firm has a market capitalization of $20.43 billion, a P/E ratio of 217.29, a PEG ratio of 3.66 and a beta of -0.22. The business has a fifty day simple moving average of $67.42 and a 200 day simple moving average of $71.53. Zoom Video Communications, Inc. has a 12 month low of $60.45 and a 12 month high of $124.05.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZM. Piper Sandler increased their price objective on Zoom Video Communications from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, February 28th. Citigroup raised their price target on Zoom Video Communications from $67.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 1st. Rosenblatt Securities began coverage on Zoom Video Communications in a report on Thursday, March 23rd. They set a “neutral” rating and a $75.00 price target for the company. Stifel Nicolaus dropped their target price on Zoom Video Communications to $75.00 in a report on Friday, March 3rd. Finally, Credit Suisse Group reissued a “neutral” rating and set a $83.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 28th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $88.70.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 10,500 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $61.42, for a total value of $644,910.00. Following the transaction, the chief operating officer now directly owns 29,119 shares of the company’s stock, valued at approximately $1,788,488.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zoom Video Communications news, COO Aparna Bawa sold 10,500 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $61.42, for a total value of $644,910.00. Following the transaction, the chief operating officer now directly owns 29,119 shares of the company’s stock, valued at approximately $1,788,488.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $61.70, for a total value of $198,920.80. The disclosure for this sale can be found here. Insiders sold a total of 103,893 shares of company stock worth $7,116,654 in the last quarter. 11.28% of the stock is owned by company insiders.

Zoom Video Communications Profile

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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.