Vanguard Group Inc. Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vanguard Group Inc. raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,417,464 shares of the company's stock after purchasing an additional 721,923 shares during the quarter. Vanguard Group Inc. owned 7.69% of Zoom Video Communications worth $1,683,950,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ZM. Evoke Wealth LLC increased its stake in shares of Zoom Video Communications by 3.5% in the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company's stock valued at $364,000 after buying an additional 172 shares during the period. Xponance Inc. grew its stake in Zoom Video Communications by 2.0% during the fourth quarter. Xponance Inc. now owns 9,279 shares of the company's stock worth $667,000 after purchasing an additional 179 shares during the period. Cantor Fitzgerald L. P. grew its stake in Zoom Video Communications by 2.7% during the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company's stock worth $544,000 after purchasing an additional 197 shares during the period. Quadrant Capital Group LLC grew its stake in Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company's stock worth $26,000 after purchasing an additional 267 shares during the period. Finally, Cyndeo Wealth Partners LLC grew its stake in Zoom Video Communications by 7.0% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 4,537 shares of the company's stock worth $326,000 after purchasing an additional 296 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Insider Activity

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the company's stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $61.43, for a total transaction of $307,580.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the company's stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $61.43, for a total transaction of $307,580.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 27,963 shares of the company's stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the transaction, the chief executive officer now directly owns 95,140 shares of the company's stock, valued at approximately $5,896,777.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,193 shares of company stock valued at $6,427,858. Insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Down 1.3 %

Shares of ZM traded down $0.74 during midday trading on Wednesday, reaching $56.21. The stock had a trading volume of 3,217,761 shares, compared to its average volume of 3,457,061. The company's 50-day moving average is $61.49 and its 200 day moving average is $65.40. Zoom Video Communications, Inc. has a 12-month low of $56.09 and a 12-month high of $75.90. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 8.74 and a beta of -0.01.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Research analysts forecast that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on ZM shares. Mizuho reduced their price objective on Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, February 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Robert W. Baird reduced their price objective on Zoom Video Communications from $90.00 to $84.00 and set an "outperform" rating for the company in a research note on Tuesday, May 21st. Citigroup raised their price objective on Zoom Video Communications from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, May 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $75.72.

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.