Zoom Video Communications, Inc. (NASDAQ:ZM) Position Increased by abrdn plc

abrdn plc raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 103.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,119 shares of the company’s stock after buying an additional 45,912 shares during the quarter. abrdn plc’s holdings in Zoom Video Communications were worth $6,480,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AM Squared Ltd acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at about $28,000. Allworth Financial LP increased its holdings in shares of Zoom Video Communications by 101.4% in the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after purchasing an additional 282 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at about $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Zoom Video Communications by 134.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock valued at $51,000 after purchasing an additional 404 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Zoom Video Communications by 835.9% in the 4th quarter. Blue Trust Inc. now owns 1,226 shares of the company’s stock valued at $86,000 after purchasing an additional 1,095 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wedbush reiterated a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, April 18th. 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. Mizuho dropped their price objective on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Finally, Piper Sandler increased their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $77.56.

Insider Activity

In other news, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was 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 $5,896,777.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the transaction, the chief executive officer now directly owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,734.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,224 shares of company stock valued at $5,872,091. 11.28% of the stock is owned by company insiders.

Zoom Video Communications Stock Up 1.6 %

Shares of ZM stock opened at $62.00 on Friday. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90. The company has a market cap of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07. The business’s 50 day moving average is $64.57 and its two-hundred day moving average is $65.77.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating 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 company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

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.