Rakuten Securities Inc. Buys Shares of 595 Zoom Video Communications, Inc. (NASDAQ:ZM)

Rakuten Securities Inc. purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 595 shares of the company’s stock, valued at approximately $43,000.

Several other large investors also recently made changes to their positions in ZM. AlphaCrest Capital Management LLC boosted its stake in shares of Zoom Video Communications by 17.4% during the 1st quarter. AlphaCrest Capital Management LLC now owns 3,150 shares of the company’s stock worth $369,000 after acquiring an additional 466 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Zoom Video Communications during the 1st quarter worth about $1,652,000. Panagora Asset Management Inc. boosted its stake in shares of Zoom Video Communications by 45.5% during the 1st quarter. Panagora Asset Management Inc. now owns 10,985 shares of the company’s stock worth $1,288,000 after acquiring an additional 3,434 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Zoom Video Communications by 11.3% during the 1st quarter. Cibc World Market Inc. now owns 4,364 shares of the company’s stock worth $512,000 after purchasing an additional 442 shares during the last quarter. Finally, Prudential PLC acquired a new position in shares of Zoom Video Communications during the 1st quarter worth about $263,000. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of several research analyst reports. Piper Sandler boosted their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research report on Thursday, January 18th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 27th. 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. Finally, JPMorgan Chase & Co. cut their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Trading Up 1.5 %

Shares of ZM opened at $59.94 on Friday. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $75.90. The stock has a 50 day simple moving average of $64.95 and a 200-day simple moving average of $66.03. The stock has a market cap of $18.44 billion, a PE ratio of 29.38 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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 forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 1,553 shares of the 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 $108,710.00. Following the sale, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the transaction, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 1,931 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $135,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,249 shares of company stock worth $4,252,841 in the last three months. Insiders own 11.28% of the company’s stock.

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.