First Republic Investment Management Inc. lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) by 20.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,634 shares of the company’s stock after selling 3,041 shares during the period. First Republic Investment Management Inc.’s holdings in Zoom Video Communications were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its position in Zoom Video Communications by 0.8% during the first quarter. BlackRock Inc. now owns 12,837,056 shares of the company’s stock worth $947,888,000 after purchasing an additional 104,955 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of Zoom Video Communications by 2.4% in the 1st quarter. ARK Investment Management LLC now owns 10,867,033 shares of the company’s stock worth $802,422,000 after acquiring an additional 251,142 shares during the period. Renaissance Technologies LLC increased its stake in Zoom Video Communications by 61.0% during the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after buying an additional 2,444,294 shares during the period. FMR LLC increased its stake in Zoom Video Communications by 28.3% during the 1st quarter. FMR LLC now owns 6,171,801 shares of the company’s stock valued at $455,726,000 after buying an additional 1,361,860 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Zoom Video Communications by 90,648.4% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,660,888 shares of the company’s stock valued at $384,261,000 after buying an additional 5,654,650 shares during the period. Hedge funds and other institutional investors own 54.85% of the company’s stock.
Insider Transactions at Zoom Video Communications
In other news, COO Aparna Bawa sold 16,957 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $63.14, for a total transaction of $1,070,664.98. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $124,890.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,586 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $70.69, for a total value of $112,114.34. Following the completion of the sale, the insider now owns 58,306 shares of the company’s stock, valued at approximately $4,121,651.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 16,957 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $63.14, for a total transaction of $1,070,664.98. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $124,890.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,234 shares of company stock worth $10,040,612. 11.28% of the stock is owned by insiders.
Zoom Video Communications Stock Performance
Zoom Video Communications (NASDAQ:ZM – Get Free Report) last released its earnings results on Monday, August 21st. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.28. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts forecast that Zoom Video Communications, Inc. will post 1.77 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, October 4th. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, August 23rd. Wells Fargo & Company reduced their price objective on shares of Zoom Video Communications from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 22nd. 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. Finally, Robert W. Baird reduced their price objective on shares of Zoom Video Communications from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $81.55.
View Our Latest Stock Analysis on Zoom Video Communications
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.
Featured Articles
- Five stocks we like better than Zoom Video Communications
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Bargain Alert: Crocs a Footwear Brand With Single Digit P/E Ratio
- What Does a Stock Split Mean?
- MarketBeat Week in Review – 10/16 – 10/20
- How to Invest in Solar Energy
- Institutions Buy Consumer Staples, is the Bottom in?
Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.
