Mark Asset Management LP reduced its position in shares of Zoom Video Communications Inc (NASDAQ:ZM) by 48.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,122 shares of the company’s stock after selling 32,753 shares during the period. Zoom Video Communications comprises approximately 1.7% of Mark Asset Management LP’s holdings, making the stock its 20th largest holding. Mark Asset Management LP’s holdings in Zoom Video Communications were worth $8,905,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Morgan Stanley grew its stake in Zoom Video Communications by 144.6% during the 1st quarter. Morgan Stanley now owns 12,187,772 shares of the company’s stock worth $1,780,877,000 after buying an additional 7,205,678 shares during the last quarter. Vanguard Group Inc. grew its stake in Zoom Video Communications by 164.4% during the 2nd quarter. Vanguard Group Inc. now owns 10,278,000 shares of the company’s stock worth $2,605,884,000 after buying an additional 6,390,753 shares during the last quarter. Baillie Gifford & Co. grew its stake in Zoom Video Communications by 191.0% during the 1st quarter. Baillie Gifford & Co. now owns 7,169,538 shares of the company’s stock worth $1,047,612,000 after buying an additional 4,706,193 shares during the last quarter. BosValen Asset Management Ltd bought a new position in Zoom Video Communications during the 1st quarter worth $199,946,000. Finally, Advisor Group Holdings Inc. bought a new position in Zoom Video Communications during the 1st quarter worth $12,557,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on ZM. Citigroup upped their price objective on Zoom Video Communications from $217.00 to $377.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Morgan Stanley increased their price target on Zoom Video Communications from $240.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. BidaskClub raised Zoom Video Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 20th. Royal Bank of Canada increased their price target on Zoom Video Communications from $300.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 1st. Finally, Stephens reissued a “neutral” rating and issued a $220.00 price target on shares of Zoom Video Communications in a research note on Monday, July 20th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $355.00.
Shares of NASDAQ ZM traded down $11.43 during mid-day trading on Friday, hitting $369.89. 13,147,262 shares of the company traded hands, compared to its average volume of 10,559,238. Zoom Video Communications Inc has a 1 year low of $60.97 and a 1 year high of $478.00. The stock has a market capitalization of $104.35 billion, a price-to-earnings ratio of 425.16, a PEG ratio of 9.33 and a beta of -1.24. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $274.28 and a two-hundred day moving average of $195.13.
Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, August 31st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.45 by $0.47. Zoom Video Communications had a return on equity of 30.96% and a net margin of 17.10%. The business had revenue of $663.50 million during the quarter, compared to the consensus estimate of $500.37 million. During the same period in the prior year, the business posted $0.08 earnings per share. Zoom Video Communications’s revenue was up 354.5% compared to the same quarter last year. As a group, research analysts anticipate that Zoom Video Communications Inc will post 1.59 EPS for the current year.
In related news, Director Bart Swanson sold 3,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $215.00, for a total value of $645,000.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $645,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Hammonds sold 3,125 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $205.91, for a total value of $643,468.75. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $643,468.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 388,295 shares of company stock valued at $95,509,890. 24.25% of the stock is currently owned by company insiders.
Zoom Video Communications Company Profile
Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
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