Russell Investments Group Ltd. Has $23.95 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Russell Investments Group Ltd. raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 33.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 361,029 shares of the company’s stock after acquiring an additional 90,784 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Zoom Video Communications worth $23,951,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ZM. Principal Securities Inc. acquired a new position in Zoom Video Communications during the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC increased its holdings in Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after buying an additional 267 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in Zoom Video Communications during the fourth quarter worth $32,000. Rakuten Securities Inc. acquired a new stake in Zoom Video Communications in the fourth quarter valued at $43,000. Finally, GAMMA Investing LLC bought a new position in shares of Zoom Video Communications in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Evercore ISI cut their price target on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, May 21st. Citigroup raised their target price on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Morgan Stanley decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Finally, Piper Sandler decreased their target price on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.22.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 21,968 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $119,036.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total transaction of $317,243.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 21,968 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $119,036.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,265 shares of company stock worth $7,684,302. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Stock Down 0.8 %

ZM stock traded down $0.47 during mid-day trading on Wednesday, reaching $58.69. 702,822 shares of the company traded hands, compared to its average volume of 3,299,849. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 8.95 and a beta of -0.05. Zoom Video Communications, Inc. has a fifty-two week low of $55.63 and a fifty-two week high of $75.90. The firm’s 50 day moving average price is $60.29 and its 200 day moving average price is $63.52.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, analysts anticipate that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

About Zoom Video Communications

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.