Rakuten Securities Inc. Purchases New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Rakuten Securities Inc. purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 595 shares of the company’s stock, valued at approximately $43,000.

Several other large investors have also modified their holdings of the company. GraniteShares Advisors LLC acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $571,000. Cornercap Investment Counsel Inc. boosted its holdings in shares of Zoom Video Communications by 138.0% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 29,196 shares of the company’s stock valued at $2,099,000 after acquiring an additional 16,927 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $253,000. Vontobel Holding Ltd. boosted its holdings in shares of Zoom Video Communications by 4.6% in the fourth quarter. Vontobel Holding Ltd. now owns 67,359 shares of the company’s stock valued at $4,844,000 after acquiring an additional 2,945 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Zoom Video Communications by 3.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after acquiring an additional 216,768 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Up 1.5 %

Shares of ZM stock opened at $59.94 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The stock has a market cap of $18.44 billion, a P/E ratio of 29.38 and a beta of -0.07. The business has a fifty day simple moving average of $64.95 and a 200-day simple moving average of $66.03.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the sale, the chief executive officer now owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Zoom Video Communications news, CAO Shane Crehan sold 5,099 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $62.97, for a total value of $321,084.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the sale, the chief executive officer now directly owns 95,140 shares in the company, valued at $5,896,777.20. The disclosure for this sale can be found here. Insiders have sold a total of 66,249 shares of company stock valued at $4,252,841 over the last quarter. Insiders own 11.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler upped their price target on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a research note on Thursday, January 18th. Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday. Finally, Mizuho cut their price objective on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. 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 company. According to data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications 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.