Hodges Capital Management Inc. Sells 579 Shares of Zoom Video Communications Inc (NASDAQ:ZM)

Hodges Capital Management Inc. lessened its holdings in shares of Zoom Video Communications Inc (NASDAQ:ZM) by 47.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 650 shares of the company’s stock after selling 579 shares during the quarter. Hodges Capital Management Inc.’s holdings in Zoom Video Communications were worth $306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ZM. Morgan Stanley raised its position in Zoom Video Communications by 144.6% during the first quarter. Morgan Stanley now owns 12,187,772 shares of the company’s stock valued at $1,780,877,000 after acquiring an additional 7,205,678 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Zoom Video Communications by 164.4% in the second quarter. Vanguard Group Inc. now owns 10,278,000 shares of the company’s stock valued at $2,605,884,000 after purchasing an additional 6,390,753 shares during the period. Coatue Management LLC raised its position in shares of Zoom Video Communications by 323.1% in the second quarter. Coatue Management LLC now owns 2,521,307 shares of the company’s stock valued at $639,253,000 after purchasing an additional 1,925,382 shares during the period. Advisor Group Holdings Inc. bought a new position in shares of Zoom Video Communications in the first quarter valued at approximately $12,557,000. Finally, Nuveen Asset Management LLC bought a new position in shares of Zoom Video Communications in the second quarter valued at approximately $213,266,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Zoom Video Communications from $240.00 to $350.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 1st. Bank of America lifted their price target on shares of Zoom Video Communications from $475.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho assumed coverage on shares of Zoom Video Communications in a research report on Friday, October 9th. They issued a “buy” rating and a $550.00 price target on the stock. BofA Securities lifted their price target on shares of Zoom Video Communications from $260.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Finally, KeyCorp restated a “buy” rating on shares of Zoom Video Communications in a report on Monday, August 17th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the company. Zoom Video Communications has an average rating of “Hold” and a consensus target price of $410.50.

In other Zoom Video Communications news, CEO Eric S. Yuan sold 70,143 shares of Zoom Video Communications stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $235.57, for a total transaction of $16,523,586.51. Following the completion of the sale, the chief executive officer now owns 177,286 shares of the company’s stock, valued at approximately $41,763,263.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bart Swanson sold 2,000 shares of Zoom Video Communications stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $353.88, for a total transaction of $707,760.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $707,760. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 257,217 shares of company stock valued at $89,878,964. Company insiders own 24.25% of the company’s stock.

Shares of Zoom Video Communications stock opened at $559.00 on Friday. Zoom Video Communications Inc has a 12-month low of $60.97 and a 12-month high of $565.45. The stock has a market capitalization of $158.99 billion, a P/E ratio of 716.67, a price-to-earnings-growth ratio of 9.67 and a beta of -1.24. The company has a 50-day simple moving average of $434.18 and a 200 day simple moving average of $265.83. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, August 31st. The company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.47. The company had revenue of $663.50 million during the quarter, compared to analyst estimates of $500.37 million. Zoom Video Communications had a net margin of 17.10% and a return on equity of 27.93%. The company’s revenue was up 354.5% on a year-over-year basis. During the same quarter last year, the business posted $0.08 earnings per share. On average, equities analysts anticipate that Zoom Video Communications Inc will post 1.59 earnings per share for the current year.

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

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