Fifth Third Bancorp bought a new position in Zoom Video Communications Inc (NASDAQ:ZM) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 585 shares of the company’s stock, valued at approximately $85,000.

Several other large investors have also added to or reduced their stakes in ZM. Artisan Partners Limited Partnership raised its holdings in shares of Zoom Video Communications by 129.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,192,614 shares of the company’s stock valued at $489,385,000 after buying an additional 4,061,148 shares in the last quarter. Baillie Gifford & Co. grew its position in Zoom Video Communications by 721.1% during the 4th quarter. Baillie Gifford & Co. now owns 2,463,345 shares of the company’s stock worth $167,606,000 after acquiring an additional 2,163,345 shares during the last quarter. Wildcat Capital Management LLC bought a new position in Zoom Video Communications during the 4th quarter worth approximately $77,549,000. FIL Ltd grew its position in Zoom Video Communications by 48.0% during the 4th quarter. FIL Ltd now owns 2,744,885 shares of the company’s stock worth $186,762,000 after acquiring an additional 890,787 shares during the last quarter. Finally, Abdiel Capital Advisors LP grew its position in Zoom Video Communications by 306.5% during the 4th quarter. Abdiel Capital Advisors LP now owns 1,070,137 shares of the company’s stock worth $72,812,000 after acquiring an additional 806,897 shares during the last quarter. 24.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ZM opened at $172.18 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.28 and a current ratio of 3.28. The business’s 50 day moving average price is $147.93 and its 200-day moving average price is $100.73. Zoom Video Communications Inc has a fifty-two week low of $60.97 and a fifty-two week high of $181.50. The company has a market cap of $48.46 billion and a price-to-earnings ratio of 2,152.52.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.16. Zoom Video Communications had a return on equity of 3.30% and a net margin of 3.73%. The firm had revenue of $188.25 million for the quarter, compared to the consensus estimate of $176.88 million. Zoom Video Communications’s revenue was up 77.9% on a year-over-year basis. Sell-side analysts predict that Zoom Video Communications Inc will post 0.02 earnings per share for the current year.

Several equities analysts recently issued reports on ZM shares. Morgan Stanley restated a “hold” rating and set a $105.00 price target on shares of Zoom Video Communications in a research report on Thursday, April 9th. Royal Bank of Canada lifted their price objective on Zoom Video Communications from $110.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 2nd. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their price objective on Zoom Video Communications from $125.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Robert W. Baird lifted their price objective on Zoom Video Communications from $85.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Finally, Piper Sandler lifted their price target on Zoom Video Communications from $110.00 to $144.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $122.50.

In related news, CEO Eric S. Yuan sold 70,143 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $113.34, for a total value of $7,950,007.62. Following the transaction, the chief executive officer now owns 320,143 shares of the company’s stock, valued at $36,285,007.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Aparna Bawa sold 7,500 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $119.65, for a total value of $897,375.00. The disclosure for this sale can be found here. In the last three months, insiders sold 746,211 shares of company stock worth $99,785,087. 24.25% of the stock is owned by insiders.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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

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