Zoom Video Communications Inc (NASDAQ:ZM) Shares Sold by Sciencast Management LP

Sciencast Management LP cut its stake in shares of Zoom Video Communications Inc (NASDAQ:ZM) by 9.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,522 shares of the company’s stock after selling 151 shares during the period. Sciencast Management LP’s holdings in Zoom Video Communications were worth $393,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $3,365,000. SlateStone Wealth LLC acquired a new position in Zoom Video Communications during the second quarter valued at approximately $505,000. V Wealth Advisors LLC acquired a new position in Zoom Video Communications during the second quarter valued at approximately $1,339,000. Trustcore Financial Services LLC grew its stake in Zoom Video Communications by 23.5% during the second quarter. Trustcore Financial Services LLC now owns 672 shares of the company’s stock worth $170,000 after buying an additional 128 shares during the period. Finally, Stratos Wealth Advisors LLC acquired a new stake in shares of Zoom Video Communications in the second quarter worth $348,000. Institutional investors and hedge funds own 28.68% of the company’s stock.

Shares of NASDAQ ZM opened at $253.91 on Friday. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $252.33 and its two-hundred day moving average price is $159.35. Zoom Video Communications Inc has a 52-week low of $60.97 and a 52-week high of $281.00. The stock has a market capitalization of $71.63 billion, a P/E ratio of 1,493.59, a PEG ratio of 12.33 and a beta of -1.48.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.19. Zoom Video Communications had a return on equity of 6.29% and a net margin of 6.04%. The business had revenue of $328.20 million during the quarter, compared to the consensus estimate of $203.53 million. During the same period in the previous year, the business earned $0.03 EPS. The business’s quarterly revenue was up 169.0% on a year-over-year basis. On average, analysts anticipate that Zoom Video Communications Inc will post 0.82 EPS for the current year.

A number of analysts recently weighed in on the stock. Oppenheimer started coverage on shares of Zoom Video Communications in a research report on Tuesday, June 2nd. They set a “hold” rating for the company. Argus reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Wednesday, April 8th. Needham & Company LLC raised their target price on Zoom Video Communications from $140.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Royal Bank of Canada restated a “buy” rating and issued a $250.00 price target on shares of Zoom Video Communications in a report on Tuesday, June 16th. Finally, William Blair reaffirmed a “buy” rating on shares of Zoom Video Communications in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $209.43.

In related news, insider Aparna Bawa sold 7,500 shares of Zoom Video Communications stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $168.00, for a total value of $1,260,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bart Swanson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $215.00, for a total transaction of $645,000.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $645,000. The disclosure for this sale can be found here. In the last three months, insiders sold 795,238 shares of company stock worth $174,536,223. Company insiders own 24.25% of the company’s stock.

Zoom Video Communications Profile

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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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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