Easterly Investment Partners LLC Acquires New Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Easterly Investment Partners LLC acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 98,636 shares of the company’s stock, valued at approximately $5,838,000.

A number of other institutional investors also recently modified their holdings of ZM. Xponance Inc. raised its position in shares of Zoom Video Communications by 2.0% in the fourth quarter. Xponance Inc. now owns 9,279 shares of the company’s stock valued at $667,000 after purchasing an additional 179 shares during the period. abrdn plc raised its position in shares of Zoom Video Communications by 103.9% in the fourth quarter. abrdn plc now owns 90,119 shares of the company’s stock valued at $6,480,000 after purchasing an additional 45,912 shares during the period. Handelsbanken Fonder AB raised its position in shares of Zoom Video Communications by 18.8% in the fourth quarter. Handelsbanken Fonder AB now owns 47,927 shares of the company’s stock valued at $3,446,000 after purchasing an additional 7,573 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Zoom Video Communications in the fourth quarter worth $48,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Zoom Video Communications by 11.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,303 shares of the company’s stock worth $525,000 after acquiring an additional 775 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 3,589 shares of the stock in a transaction on Sunday, June 9th. The stock was sold at an average price of $62.42, for a total transaction of $224,025.38. Following the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $5,073,934.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Zoom Video Communications news, CAO Shane Crehan sold 1,538 shares of the stock in a transaction dated Sunday, June 9th. The stock was sold at an average price of $62.42, for a total value of $96,001.96. Following the completion of the transaction, the chief accounting officer now directly owns 1,475 shares in the company, valued at $92,069.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,589 shares of the stock in a transaction dated Sunday, June 9th. The shares were sold at an average price of $62.42, for a total value of $224,025.38. Following the completion of the transaction, the insider now owns 81,287 shares of the company’s stock, valued at $5,073,934.54. The disclosure for this sale can be found here. Insiders have sold 123,642 shares of company stock worth $7,187,144 in the last 90 days. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 3.1 %

Shares of Zoom Video Communications stock traded up $2.10 on Friday, reaching $70.14. 10,683,908 shares of the company were exchanged, compared to its average volume of 3,642,300. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $75.90. The company has a market capitalization of $21.69 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 10.44 and a beta of -0.05. The company has a 50-day moving average of $58.53 and a 200 day moving average of $61.83.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.97% and a net margin of 19.08%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday. Benchmark restated a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research note on Monday, August 5th. Morgan Stanley decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research note on Tuesday, May 21st. Finally, UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.10.

Zoom Video Communications Company Profile

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.