Griffin Asset Management Inc. cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,833 shares of the company’s stock after selling 100 shares during the period. Griffin Asset Management Inc.’s holdings in Zoom Video Communications were worth $215,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its position in shares of Zoom Video Communications by 1.8% during the fourth quarter. State Street Corp now owns 4,767,911 shares of the company’s stock valued at $876,867,000 after purchasing an additional 83,580 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Zoom Video Communications by 43.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,268,516 shares of the company’s stock valued at $785,023,000 after buying an additional 1,283,356 shares during the period. Renaissance Technologies LLC raised its stake in shares of Zoom Video Communications by 24.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,005,012 shares of the company’s stock valued at $736,562,000 after buying an additional 789,132 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Zoom Video Communications by 55.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,668,279 shares of the company’s stock worth $675,037,000 after acquiring an additional 1,312,035 shares during the period. Finally, Fisher Asset Management LLC acquired a new stake in shares of Zoom Video Communications during the 4th quarter valued at about $418,128,000. Institutional investors own 55.94% of the company’s stock.
ZM has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price target on Zoom Video Communications from $163.00 to $142.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 24th. Argus cut their price target on shares of Zoom Video Communications from $350.00 to $170.00 in a report on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Zoom Video Communications from $155.00 to $105.00 in a research note on Tuesday, May 24th. Robert W. Baird cut their target price on shares of Zoom Video Communications from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. Finally, Daiwa Capital Markets upgraded Zoom Video Communications from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $107.00 to $121.00 in a research report on Monday, May 30th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $169.42.
ZM stock opened at $117.67 on Friday. The stock has a 50-day moving average price of $102.95 and a two-hundred day moving average price of $130.39. Zoom Video Communications, Inc. has a 1 year low of $79.03 and a 1 year high of $406.48. The stock has a market cap of $35.11 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.34 and a beta of -0.67.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last announced its earnings results on Monday, May 23rd. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.35 by $0.12. Zoom Video Communications had a net margin of 29.91% and a return on equity of 16.56%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts expect that Zoom Video Communications, Inc. will post 1.75 earnings per share for the current year.
Zoom Video Communications Profile (Get Rating)
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.
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