Empowered Funds LLC Has $7.07 Million Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Empowered Funds LLC grew its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1,413.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,124 shares of the company’s stock after purchasing an additional 100,982 shares during the quarter. Empowered Funds LLC’s holdings in Zoom Video Communications were worth $7,068,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Evoke Wealth LLC lifted its stake in Zoom Video Communications by 3.5% during the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock worth $364,000 after purchasing an additional 172 shares during the last quarter. Xponance Inc. lifted its stake in Zoom Video Communications by 2.0% during the fourth quarter. Xponance Inc. now owns 9,279 shares of the company’s stock worth $667,000 after purchasing an additional 179 shares during the last quarter. Cantor Fitzgerald L. P. lifted its stake in Zoom Video Communications by 2.7% during the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after purchasing an additional 197 shares during the last quarter. Quadrant Capital Group LLC lifted its stake 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 purchasing an additional 267 shares during the last quarter. Finally, Wynn Capital LLC lifted its stake in Zoom Video Communications by 3.3% during the first quarter. Wynn Capital LLC now owns 8,881 shares of the company’s stock worth $581,000 after purchasing an additional 284 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total value of $297,215.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zoom Video Communications news, CAO Shane Crehan sold 1,538 shares of Zoom Video Communications stock in a transaction that occurred on Sunday, June 9th. The shares were sold at an average price of $62.42, for a total transaction of $96,001.96. Following the transaction, the chief accounting officer now owns 1,475 shares of the company’s stock, valued at approximately $92,069.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,272 shares of company stock valued at $7,981,517. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of ZM stock traded up $0.98 on Friday, reaching $57.58. 3,437,998 shares of the company were exchanged, compared to its average volume of 3,124,081. The company has a market cap of $17.81 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 8.68 and a beta of -0.05. The company has a 50-day moving average of $60.42 and a 200-day moving average of $63.86. Zoom Video Communications, Inc. has a one year low of $55.63 and a one year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. As a group, sell-side analysts predict that Zoom Video Communications, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ZM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Rosenblatt Securities increased their price target on Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Piper Sandler dropped their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley dropped their price target on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Finally, Robert W. Baird dropped their price target on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company 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.