Martingale Asset Management LP Invested $308,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Martingale Asset Management LP acquired Zoom Video Communications, Inc. during the second quarter. (NASDAQ: ZM – Get rating), Holdings Channel reports. The firm acquired 2,852 shares of the company’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Zoom Video Communications worth $26,000 during the second quarter. Global Wealth Management Investment Advisory Inc. increased its stake in Zoom Video Communications shares to 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. Now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Covester Ltd. increased shares of Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after buying an additional 171 shares in the last quarter. Glassman Wealth Services increased its holding in shares of Zoom Video Communications by 229.8% during the second quarter. Glassman Wealth Services now owns 465 shares of the company’s stock valued at $50,000 after purchasing an additional 324 shares in the last quarter. Finally, Focused Wealth Management Inc raised its stake in shares of Zoom Video Communications by 1,875.0% during the second quarter. Focused Wealth Management Inc. now owns 632 shares of the company valued at $68,000 after buying an additional 600 shares in the last quarter. 52.86% of the stock is owned by institutional investors and hedge funds.

insider buying and selling

In related news, insider Velchamy Shankarlingam sold 2,374 shares of the business’s stock in a transaction on Saturday, October 8. The stock was sold at an average price of $71.59, for a total transaction of $169,954.66. Following the completion of the transaction, the insider now owns 15,869 shares of the Company’s stock, valued at approximately $1,136,061.71. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available through the SEC website. 11.24% of the stock is owned by insiders.

Zoom Video Communications Stock Performance

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The NASDAQ ZM opened Thursday at $76.14. Zoom Video Communications, Inc. The 12-month low is $70.43 and the 12-month high is $235.97. The stock has a market capitalization of $22.66 billion, a PE ratio of 33.39, a P/E/G ratio of 3.01, and a beta of -0.29. The stock has a 50-day simple moving average of $78.58 and a 200-day simple moving average of $93.66.

Zoom Video Communications (NASDAQ: ZM – Receive Rating) last posted its quarterly earnings data on Monday, November 21. The company reported earnings per share of $1.07 for the quarter, topping the consensus estimate of $0.84 to $0.23. Zoom Video Communications had a Return on Equity of 8.80% and Net Margin of 16.07%. The business had revenue of $1.10 billion during the quarter, beating analysts’ estimates of $1.10 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, equity research analysts estimate Zoom Video Communications, Inc. to post 1.32 EPS for the current fiscal year.

analyzer upgrade and downgrade

Several research analysts have weighed in on ZM shares recently. Royal Bank of Canada cut their price target on Zoom Video Communications from $150.00 to $130.00 in a report on Tuesday, August 23rd. Credit Suisse Group initiated coverage on Zoom Video Communications in a report on Friday, September 23. He set a “neutral” rating and $83.00 price target on the stock. KeyCorp initiated coverage on Zoom Video Communications in a research note on Monday, September 12. He issued a “Sector Weight” rating on the stock. BTIG Research downgraded Zoom Video Communications from “Buy” rating to “Neutral” rating in a research note on Tuesday, August 23. Finally, Piper Sandler cut its target price on Zoom Video Communications from $84.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two equity research analysts have a sell rating on the stock, sixteen have a hold rating and nine have issued a buy rating on the company. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $115.86.

About Zoom Video Communications

(get rating)

Zoom Video Communications, Inc. provides unified communications platforms in the Americas, Asia Pacific, Europe, the Middle East and Africa. The company offers Zoom Meetings which offers HD video, voice, chat and content sharing via mobile devices, desktops, laptops, telephones and conference room systems; Zoom Phone, an enterprise cloud phone system; And Zoom Chat enables users to share messages, pictures, audio files and content across desktops, laptops, tablets and mobile devices.

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Want to see what other hedge funds are holding ZM? Zoom Video Communications, Inc. (NASDAQ: ZM – Get Ratings) Visit HoldingsChannel.com to get the latest 13F filings and insider trades.

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

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