ARK Investment Management LLC Has $83,000 Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

ARK Investment Management LLC decreased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 100.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,191 shares of the company's stock after selling 2,520,834 shares during the period. ARK Investment Management LLC's holdings in Zoom Video Communications were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ZM. Sanctuary Advisors LLC bought a new stake in shares of Zoom Video Communications in the 2nd quarter worth approximately $763,000. Robeco Institutional Asset Management B.V. lifted its stake in Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company's stock valued at $87,713,000 after buying an additional 167,618 shares during the last quarter. National Pension Service boosted its holdings in shares of Zoom Video Communications by 30.1% during the third quarter. National Pension Service now owns 655,227 shares of the company's stock valued at $45,696,000 after acquiring an additional 151,728 shares during the period. Klein Pavlis & Peasley Financial Inc. bought a new position in shares of Zoom Video Communications during the third quarter worth about $827,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Zoom Video Communications in the 3rd quarter worth about $1,245,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,614 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares in the company, valued at $191,264.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 372,121 shares of company stock worth $27,095,467. 10.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ZM shares. Stifel Nicolaus upped their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an "underweight" rating in a research note on Thursday, August 22nd. Wedbush began coverage on Zoom Video Communications in a research note on Thursday, October 17th. They issued an "outperform" rating and a $85.00 price target for the company. UBS Group upgraded shares of Zoom Video Communications to a "hold" rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Zoom Video Communications has an average rating of "Hold" and an average target price of $75.32.

Zoom Video Communications Stock Performance

Shares of ZM stock traded up $1.27 during trading on Friday, hitting $81.46. 2,839,793 shares of the company were exchanged, compared to its average volume of 3,221,289. The business's 50-day simple moving average is $70.46 and its 200 day simple moving average is $64.07. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 6.87 and a beta of -0.05. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $81.57.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.18. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

About Zoom Video Communications

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.