Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC boosted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,964,576 shares of the company’s stock after purchasing an additional 781,663 shares during the quarter. Zoom Video Communications accounts for approximately 4.7% of ARK Investment Management LLC’s holdings, making the stock its 6th biggest position. ARK Investment Management LLC owned 3.64% of Zoom Video Communications worth $788,463,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ZM. Newlands Management Operations LLC grew its holdings in shares of Zoom Video Communications by 343.2% in the 2nd quarter. Newlands Management Operations LLC now owns 5,785,588 shares of the company’s stock worth $392,726,000 after purchasing an additional 4,480,051 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Zoom Video Communications by 61.0% during the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after acquiring an additional 2,444,294 shares during the last quarter. Norges Bank bought a new stake in Zoom Video Communications during the 4th quarter worth about $98,156,000. Acadian Asset Management LLC grew its holdings in Zoom Video Communications by 639.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock worth $113,916,000 after acquiring an additional 1,408,908 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Zoom Video Communications by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after acquiring an additional 1,000,005 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of research analyst reports. Wells Fargo & Company lowered shares of Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price objective on the stock. in a report on Wednesday, December 20th. Mizuho reduced their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Zoom Video Communications in a research note on Tuesday. BNP Paribas downgraded shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target on the stock. in a research report on Thursday, January 18th. Finally, Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications Trading Up 0.4 %

Shares of ZM opened at $66.62 on Thursday. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 32.66 and a beta of -0.06. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90. The company’s fifty day simple moving average is $66.26 and its 200 day simple moving average is $66.79.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 15,611 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $67.98, for a total value of $1,061,235.78. Following the transaction, the insider now directly owns 70,061 shares in the company, valued at $4,762,746.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Santiago Subotovsky sold 2,067 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $69.67, for a total value of $144,007.89. Following the transaction, the director now directly owns 159,693 shares in the company, valued at $11,125,811.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 15,611 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $67.98, for a total transaction of $1,061,235.78. Following the completion of the transaction, the insider now owns 70,061 shares in the company, valued at $4,762,746.78. The disclosure for this sale can be found here. Insiders have sold a total of 67,075 shares of company stock worth $4,534,500 over the last ninety days. Insiders own 11.28% of the company’s stock.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.