Intellectus Partners LLC Acquires 1,790 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Intellectus Partners LLC boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,574 shares of the company’s stock after acquiring an additional 1,790 shares during the quarter. Intellectus Partners LLC’s holdings in Zoom Video Communications were worth $832,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ZM. Pearl River Capital LLC lifted its stake in Zoom Video Communications by 31.6% in the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after purchasing an additional 8,928 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Zoom Video Communications by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock valued at $32,231,000 after acquiring an additional 14,945 shares during the last quarter. CIBC Asset Management Inc grew its position in Zoom Video Communications by 15.9% during the 3rd quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,826 shares during the last quarter. Vanguard Group Inc. increased its stake in Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after purchasing an additional 1,000,005 shares during the period. Finally, Galvin Gaustad & Stein LLC lifted its position in Zoom Video Communications by 25.4% in the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after purchasing an additional 66,433 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Ratings Changes

ZM has been the subject of several research reports. Jefferies Financial Group began coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 27th. Piper Sandler lifted their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. BNP Paribas downgraded shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research report on Thursday, January 18th. Finally, Rosenblatt Securities raised Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.56.

Insider Activity

In other news, CAO Shane Crehan sold 1,931 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $135,170.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Shane Crehan sold 1,931 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $135,170.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 27,963 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the sale, the chief executive officer now owns 95,140 shares in the company, valued at $5,896,777.20. The disclosure for this sale can be found here. Insiders sold a total of 93,224 shares of company stock worth $5,872,091 over the last 90 days. Corporate insiders own 11.28% of the company’s stock.

Zoom Video Communications Trading Up 1.6 %

NASDAQ ZM opened at $62.00 on Monday. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90. The stock has a market cap of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07. The stock’s 50 day moving average is $64.57 and its 200 day moving average is $65.78.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. On average, analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

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.