Russell Investments Group Ltd. Has $2.74 Million Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Russell Investments Group Ltd. reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 40.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,451 shares of the company’s stock after selling 27,864 shares during the period. Russell Investments Group Ltd.’s holdings in Zoom Video Communications were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Accurate Wealth Management LLC acquired a new position in Zoom Video Communications in the 4th quarter valued at $26,000. Global Wealth Management Investment Advisory Inc. raised its holdings in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. TCI Wealth Advisors Inc. raised its holdings in Zoom Video Communications by 57.9% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 529 shares of the company’s stock valued at $39,000 after acquiring an additional 194 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in Zoom Video Communications by 101.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 525 shares of the company’s stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. Finally, Neo Ivy Capital Management raised its holdings in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. 52.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $102.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 28th. Royal Bank of Canada lifted their price target on Zoom Video Communications from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Stifel Nicolaus decreased their price target on Zoom Video Communications to $75.00 in a research note on Friday, March 3rd. Roth Capital reiterated a “neutral” rating on shares of Zoom Video Communications in a research note on Wednesday, February 8th. Finally, Piper Sandler lifted their price target on Zoom Video Communications from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.70.

Zoom Video Communications Trading Down 0.2 %

NASDAQ ZM opened at $69.37 on Friday. The firm has a market capitalization of $20.38 billion, a PE ratio of 216.79, a price-to-earnings-growth ratio of 3.66 and a beta of -0.22. The business’s 50-day moving average price is $67.46 and its two-hundred day moving average price is $71.44. Zoom Video Communications, Inc. has a 12 month low of $60.45 and a 12 month high of $124.05.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.43). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a net margin of 2.36% and a return on equity of 2.70%. As a group, analysts forecast that Zoom Video Communications, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Shane Crehan sold 11,049 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $68.13, for a total transaction of $752,768.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Shane Crehan sold 11,049 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $68.13, for a total transaction of $752,768.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $70.97, for a total value of $228,807.28. The disclosure for this sale can be found here. Insiders have sold 103,893 shares of company stock valued at $7,116,654 in the last ninety days. 11.28% of the stock is owned by company insiders.

Zoom Video Communications Company Profile

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Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.