O Shaughnessy Asset Management LLC Buys 500 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

O Shaughnessy Asset Management LLC grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 81.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,117 shares of the company’s stock after purchasing an additional 500 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Zoom Video Communications were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in shares of Zoom Video Communications by 250.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,537,274 shares of the company’s stock worth $4,028,101,000 after acquiring an additional 8,964,122 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Zoom Video Communications by 214.4% in the 1st quarter. ARK Investment Management LLC now owns 3,002,347 shares of the company’s stock worth $964,624,000 after acquiring an additional 2,047,276 shares in the last quarter. Jackson Square Partners LLC bought a new position in shares of Zoom Video Communications in the 1st quarter worth about $249,999,000. Soma Equity Partners LP bought a new position in shares of Zoom Video Communications in the 1st quarter worth about $208,839,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Zoom Video Communications by 28.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,397,949 shares of the company’s stock worth $928,078,000 after acquiring an additional 538,068 shares in the last quarter. Institutional investors and hedge funds own 46.87% of the company’s stock.

In related news, insider Velchamy Sankarlingam sold 9,531 shares of the company’s stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $384.30, for a total value of $3,662,763.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 6,700 shares of the business’s stock in a transaction dated Monday, June 28th. The stock was sold at an average price of $387.41, for a total transaction of $2,595,647.00. Following the completion of the transaction, the chief financial officer now owns 6,700 shares of the company’s stock, valued at $2,595,647. The disclosure for this sale can be found here. Insiders have sold 199,931 shares of company stock valued at $73,638,203 over the last three months. Insiders own 12.27% of the company’s stock.

NASDAQ ZM opened at $278.22 on Friday. The company has a fifty day moving average of $343.87 and a two-hundred day moving average of $339.57. The firm has a market capitalization of $82.67 billion, a price-to-earnings ratio of 84.05, a PEG ratio of 5.49 and a beta of -1.53. Zoom Video Communications, Inc. has a 52 week low of $273.20 and a 52 week high of $588.84.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Sunday, August 29th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.27 million. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The business’s revenue was up 54.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. As a group, research analysts anticipate that Zoom Video Communications, Inc. will post 3.3 EPS for the current fiscal year.

ZM has been the subject of a number of analyst reports. Royal Bank of Canada set a $450.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, August 31st. JPMorgan Chase & Co. raised their price objective on shares of Zoom Video Communications from $385.00 to $456.00 and gave the company a “neutral” rating in a research note on Wednesday, June 2nd. Bank of America reduced their price objective on shares of Zoom Video Communications from $480.00 to $385.00 and set a “buy” rating for the company in a research note on Tuesday, August 31st. Needham & Company LLC set a $361.97 price objective on shares of Zoom Video Communications and gave the company a “hold” rating in a research note on Monday, July 19th. Finally, Morgan Stanley upgraded shares of Zoom Video Communications from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $360.00 to $400.00 in a research note on Thursday, August 26th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average target price of $399.75.

Zoom Video Communications Company 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.

Further Reading: Capital Gains

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

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