Burleson & Company LLC Purchases New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Burleson & Company LLC bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 241 shares of the company’s stock, valued at approximately $77,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Zoom Video Communications by 20.2% in the fourth quarter. BlackRock Inc. now owns 10,716,200 shares of the company’s stock worth $3,614,789,000 after purchasing an additional 1,804,237 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Zoom Video Communications by 22.6% in the 1st quarter. Baillie Gifford & Co. now owns 8,100,660 shares of the company’s stock worth $2,602,661,000 after buying an additional 1,495,639 shares during the last quarter. Jennison Associates LLC grew its position in Zoom Video Communications by 44,853.3% during the fourth quarter. Jennison Associates LLC now owns 1,354,892 shares of the company’s stock valued at $457,032,000 after buying an additional 1,351,878 shares during the period. Norges Bank purchased a new stake in Zoom Video Communications during the fourth quarter worth about $455,786,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new stake in Zoom Video Communications in the fourth quarter worth about $281,451,000. 42.43% of the stock is currently owned by institutional investors.

NASDAQ ZM opened at $346.50 on Friday. The company’s 50-day simple moving average is $321.51. Zoom Video Communications, Inc. has a 12-month low of $216.75 and a 12-month high of $588.84. The stock has a market capitalization of $101.77 billion, a price-to-earnings ratio of 154.00, a price-to-earnings-growth ratio of 10.01 and a beta of -1.49.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, May 31st. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.33. Zoom Video Communications had a return on equity of 37.79% and a net margin of 25.34%. The company had revenue of $956.24 million during the quarter, compared to analyst estimates of $908.17 million. During the same quarter in the previous year, the company posted $0.20 EPS. Zoom Video Communications’s revenue for the quarter was up 191.4% on a year-over-year basis. On average, equities research analysts forecast that Zoom Video Communications, Inc. will post 2.22 earnings per share for the current year.

ZM has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Zoom Video Communications from $385.00 to $456.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 2nd. Piper Sandler lowered their price objective on Zoom Video Communications from $541.00 to $464.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 2nd. Morgan Stanley increased their target price on shares of Zoom Video Communications from $390.00 to $420.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 2nd. Zacks Investment Research upgraded shares of Zoom Video Communications from a “hold” rating to a “strong-buy” rating and set a $386.00 price target on the stock in a research note on Monday. Finally, Rosenblatt Securities raised their price objective on shares of Zoom Video Communications from $350.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday, March 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $426.19.

In other news, Director Kimberly Hammonds sold 189 shares of the business’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $350.00, for a total transaction of $66,150.00. Following the transaction, the director now directly owns 189 shares of the company’s stock, valued at $66,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Santiago Subotovsky sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $345.45, for a total value of $2,659,965.00. Following the transaction, the director now owns 219,612 shares of the company’s stock, valued at approximately $75,864,965.40. The disclosure for this sale can be found here. Insiders have sold a total of 136,201 shares of company stock valued at $43,528,954 over the last quarter. 12.27% of the stock is currently owned by company insiders.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

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

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