SteelPeak Wealth LLC Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

SteelPeak Wealth LLC boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 189.6% in the first quarter, Holdings Channel reports. The institutional investor owned 15,830 shares of the company’s stock after acquiring an additional 10,364 shares during the quarter. SteelPeak Wealth LLC’s holdings in Zoom Video Communications were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ZM. Vanguard Group Inc. lifted its holdings in shares of Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after buying an additional 721,923 shares in the last quarter. ARK Investment Management LLC lifted its stake in Zoom Video Communications by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after purchasing an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Zoom Video Communications by 3.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after purchasing an additional 216,768 shares during the period. Nikko Asset Management Americas Inc. grew its position in shares of Zoom Video Communications by 4.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock valued at $434,785,000 after purchasing an additional 233,321 shares in the last quarter. Finally, FIL Ltd increased its holdings in shares of Zoom Video Communications by 1.3% in the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after purchasing an additional 40,456 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,791 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total value of $238,719.27. Following the completion of the transaction, the insider now directly owns 91,721 shares in the company, valued at approximately $5,775,671.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Aparna Bawa sold 874 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total transaction of $53,995.72. Following the sale, the chief operating officer now directly owns 2,814 shares of the company’s stock, valued at approximately $173,848.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 3,791 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total transaction of $238,719.27. Following the sale, the insider now owns 91,721 shares of the company’s stock, valued at $5,775,671.37. The disclosure for this sale can be found here. Insiders have sold 108,100 shares of company stock worth $6,644,293 over the last ninety days. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Trading Up 1.2 %

Shares of Zoom Video Communications stock opened at $59.19 on Monday. Zoom Video Communications, Inc. has a 12-month low of $55.63 and a 12-month high of $75.90. The company has a market cap of $18.31 billion, a P/E ratio of 22.09, a PEG ratio of 9.09 and a beta of -0.05. The company’s fifty day simple moving average is $61.20 and its two-hundred day simple moving average is $64.73.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. Analysts predict that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZM has been the subject of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Sanford C. Bernstein dropped their price target on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a research report on Tuesday, May 21st. Stifel Nicolaus decreased their price objective on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, May 21st. Robert W. Baird lowered their target price on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.44.

Zoom Video Communications 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.