Cambridge Investment Research Advisors Inc. raised its stake in Zoom Video Communications Inc (NASDAQ:ZM) by 374.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,591 shares of the company’s stock after acquiring an additional 22,567 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Zoom Video Communications were worth $4,178,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Huntington National Bank bought a new position in shares of Zoom Video Communications during the 1st quarter worth $26,000. NEXT Financial Group Inc increased its stake in shares of Zoom Video Communications by 4,344.4% in the fourth quarter. NEXT Financial Group Inc now owns 400 shares of the company’s stock worth $27,000 after purchasing an additional 391 shares in the last quarter. Verus Capital Partners LLC purchased a new stake in shares of Zoom Video Communications during the 4th quarter valued at approximately $27,000. Financial Architects Inc purchased a new stake in shares of Zoom Video Communications during the 1st quarter valued at approximately $27,000. Finally, SeaBridge Investment Advisors LLC bought a new position in Zoom Video Communications in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 24.41% of the company’s stock.
In other Zoom Video Communications news, CMO Janine Pelosi sold 190,930 shares of the business’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $158.07, for a total value of $30,180,305.10. Following the transaction, the chief marketing officer now owns 191,624 shares in the company, valued at $30,290,005.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl M. Eschenbach sold 130,385 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $112.89, for a total transaction of $14,719,162.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 746,211 shares of company stock valued at $99,785,087. Insiders own 24.25% of the company’s stock.
Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, March 4th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.16. Zoom Video Communications had a return on equity of 3.30% and a net margin of 3.73%. The company had revenue of $188.25 million during the quarter, compared to analyst estimates of $176.88 million. The company’s revenue for the quarter was up 77.9% on a year-over-year basis. As a group, equities analysts expect that Zoom Video Communications Inc will post 0.02 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Royal Bank of Canada raised their price target on Zoom Video Communications from $110.00 to $125.00 and gave the stock a “sector perform” rating in a report on Thursday, April 2nd. They noted that the move was a valuation call. Argus reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Wednesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Zoom Video Communications in a report on Sunday, April 19th. They issued an “overweight” rating on the stock. Bank of America reaffirmed a “buy” rating and set a $165.00 price objective on shares of Zoom Video Communications in a research note on Thursday, April 16th. Finally, ValuEngine downgraded shares of Zoom Video Communications from a “buy” rating to a “hold” rating in a report on Friday, April 17th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $122.50.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
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