Plato Investment Management Ltd Purchases 7,097 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Plato Investment Management Ltd lifted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 549.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,389 shares of the company’s stock after buying an additional 7,097 shares during the quarter. Plato Investment Management Ltd’s holdings in Zoom Video Communications were worth $548,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. iA Global Asset Management Inc. raised its stake in Zoom Video Communications by 27.3% in the 1st quarter. iA Global Asset Management Inc. now owns 4,060 shares of the company’s stock valued at $265,000 after acquiring an additional 870 shares during the period. Comerica Bank lifted its holdings in Zoom Video Communications by 15.6% in the 1st quarter. Comerica Bank now owns 4,966 shares of the company’s stock worth $325,000 after purchasing an additional 670 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Zoom Video Communications by 89.7% in the 1st quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock worth $2,246,000 after buying an additional 16,248 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in Zoom Video Communications by 10.8% in the 1st quarter. Motley Fool Asset Management LLC now owns 9,072 shares of the company’s stock worth $593,000 after buying an additional 885 shares during the period. Finally, California State Teachers Retirement System increased its holdings in Zoom Video Communications by 1.7% during the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock valued at $25,900,000 after buying an additional 6,630 shares during the period. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 0.2 %

Shares of ZM stock traded down $0.14 during trading hours on Friday, reaching $58.83. The stock had a trading volume of 1,688,095 shares, compared to its average volume of 3,225,661. The stock’s fifty day simple moving average is $59.42 and its 200 day simple moving average is $62.83. Zoom Video Communications, Inc. has a 12 month low of $55.63 and a 12 month high of $75.90. The firm has a market capitalization of $18.19 billion, a PE ratio of 21.61, a PEG ratio of 9.27 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, May 20th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,589 shares of Zoom Video Communications stock in a transaction on Sunday, June 9th. The shares were sold at an average price of $62.42, for a total transaction of $224,025.38. Following the sale, the insider now directly owns 81,287 shares in the company, valued at approximately $5,073,934.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.82, for a total value of $149,604.40. Following the completion of the transaction, the chief executive officer now owns 90,300 shares in the company, valued at approximately $5,582,346. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,589 shares of the business’s stock in a transaction on Sunday, June 9th. The stock was sold at an average price of $62.42, for a total value of $224,025.38. Following the sale, the insider now directly owns 81,287 shares in the company, valued at $5,073,934.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,629 shares of company stock valued at $6,935,309. 10.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZM has been the subject of a number of analyst reports. Citigroup upped their price target on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Piper Sandler decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Sanford C. Bernstein reduced their price target on shares of 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. UBS Group raised Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Finally, Rosenblatt Securities lifted their price target on Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.22.

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.