Natixis Investment Managers International bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 156 shares of the company’s stock, valued at approximately $60,000.
Several other institutional investors have also added to or reduced their stakes in the company. Lake Point Wealth Management bought a new stake in shares of Zoom Video Communications in the second quarter valued at about $28,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Zoom Video Communications during the 1st quarter valued at about $32,000. IronBridge Private Wealth LLC lifted its stake in Zoom Video Communications by 141.3% during the first quarter. IronBridge Private Wealth LLC now owns 111 shares of the company’s stock worth $36,000 after purchasing an additional 65 shares during the period. Clearstead Advisors LLC grew its stake in shares of Zoom Video Communications by 213.3% in the 2nd quarter. Clearstead Advisors LLC now owns 94 shares of the company’s stock valued at $36,000 after purchasing an additional 64 shares during the period. Finally, Reilly Financial Advisors LLC lifted its position in shares of Zoom Video Communications by 55.4% during the 2nd quarter. Reilly Financial Advisors LLC now owns 101 shares of the company’s stock worth $39,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 46.87% of the company’s stock.
A number of brokerages have issued reports on ZM. Stifel Nicolaus cut their price objective on Zoom Video Communications from $350.00 to $300.00 and set a “hold” rating for the company in a report on Monday. Wolfe Research reissued a “buy” rating and set a $375.00 price target on shares of Zoom Video Communications in a report on Tuesday, September 14th. Piper Sandler decreased their price objective on shares of Zoom Video Communications from $464.00 to $369.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 31st. Citigroup reduced their target price on Zoom Video Communications from $380.00 to $304.00 and set a “neutral” rating on the stock in a report on Thursday, September 2nd. Finally, Zacks Investment Research cut Zoom Video Communications from a “strong-buy” rating to a “sell” rating and set a $398.00 price target for the company. in a report on Thursday, August 5th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and an average price target of $397.83.
Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Sunday, August 29th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.20. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $990.27 million. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The firm’s revenue was up 54.0% on a year-over-year basis. During the same period last year, the business earned $0.92 earnings per share. As a group, sell-side analysts predict that Zoom Video Communications, Inc. will post 3.3 EPS for the current fiscal year.
In other news, COO Aparna Bawa sold 2,593 shares of the firm’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $370.14, for a total transaction of $959,773.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Santiago Subotovsky sold 7,700 shares of the company’s stock in a transaction dated Thursday, July 22nd. The shares were sold at an average price of $362.09, for a total transaction of $2,788,093.00. Following the completion of the transaction, the director now owns 188,543 shares in the company, valued at approximately $68,269,534.87. The disclosure for this sale can be found here. Insiders sold a total of 179,554 shares of company stock valued at $61,568,029 over the last quarter. 12.27% of the stock is currently owned by company insiders.
Zoom Video Communications Profile
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.
Recommended Story: What is included in the gross domestic product?
Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Video Communications, Inc. (NASDAQ:ZM).
Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.