Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 556.0% during the 4th quarter, Holdings Channel reports. The fund owned 124,088 shares of the company’s stock after purchasing an additional 105,173 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Zoom Video Communications were worth $8,923,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after acquiring an additional 1,000,005 shares in the last quarter. BlackRock Inc. increased its holdings in Zoom Video Communications by 0.8% in the first quarter. BlackRock Inc. now owns 12,837,056 shares of the company’s stock valued at $947,888,000 after buying an additional 104,955 shares during the last quarter. ARK Investment Management LLC increased its holdings in Zoom Video Communications by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after buying an additional 781,663 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Zoom Video Communications by 61.0% in the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after buying an additional 2,444,294 shares during the last quarter. Finally, State Street Corp increased its holdings in Zoom Video Communications by 3.0% in the second quarter. State Street Corp now owns 5,162,552 shares of the company’s stock valued at $350,434,000 after buying an additional 151,854 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of Zoom Video Communications 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 completion of the sale, the chief executive officer now directly owns 95,140 shares of the company’s stock, valued at approximately $5,896,777.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of Zoom Video Communications 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 completion of the sale, the chief executive officer now directly owns 95,140 shares of the company’s stock, valued at approximately $5,896,777.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,791 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total transaction of $238,719.27. Following the sale, the insider now directly owns 91,721 shares of the company’s stock, valued at $5,775,671.37. The disclosure for this sale can be found here. In the last three months, insiders sold 85,456 shares of company stock valued at $5,539,710. Company insiders own 11.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 target price on shares of Zoom Video Communications in a report on Tuesday, March 26th. Jefferies Financial Group began coverage on Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective on the stock. BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a report on Thursday, January 18th. Wells Fargo & Company lowered Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price objective on the stock. in a report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. dropped their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $59.28 on Wednesday. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $75.90. The company has a market capitalization of $18.23 billion, a P/E ratio of 29.06 and a beta of -0.07. The business has a 50 day moving average price of $65.12 and a 200 day moving average price of $66.12.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, research analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS 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.