Hillsdale Investment Management Inc. Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Hillsdale Investment Management Inc. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 8.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,970 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Zoom Video Communications were worth $521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Zoom Video Communications by 134.3% in the 4th quarter. KBC Group NV now owns 561,558 shares of the company’s stock valued at $40,382,000 after buying an additional 321,921 shares during the period. Vanguard Group Inc. raised its holdings in shares of Zoom Video Communications by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after buying an additional 721,923 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Zoom Video Communications by 556.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company’s stock valued at $8,923,000 after buying an additional 105,173 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Zoom Video Communications by 353.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 32,017 shares of the company’s stock valued at $2,302,000 after buying an additional 24,953 shares during the period. Finally, Ossiam raised its holdings in shares of Zoom Video Communications by 1,917.4% in the 4th quarter. Ossiam now owns 231,474 shares of the company’s stock valued at $16,645,000 after buying an additional 220,000 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $61.42, for a total transaction of $307,529.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $61.42, for a total transaction of $307,529.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 1,475 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $62.99, for a total value of $92,910.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,629 shares of company stock worth $6,949,228. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Up 1.7 %

NASDAQ ZM traded up $1.02 during mid-day trading on Tuesday, hitting $59.66. The stock had a trading volume of 747,617 shares, compared to its average volume of 3,265,616. Zoom Video Communications, Inc. has a 52-week low of $55.63 and a 52-week high of $75.90. The company has a market cap of $18.45 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 9.03 and a beta of -0.05. The company has a 50 day simple moving average of $60.06 and a 200 day simple moving average of $63.24.

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. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. As a group, equities analysts anticipate that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Robert W. Baird cut their price target on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Citigroup upped their price objective on Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Finally, Rosenblatt Securities increased their price objective on Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.22.

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.