35,968 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,968 shares of the company’s stock, valued at approximately $2,586,000. Zoom Video Communications comprises about 0.9% of Lecap Asset Management Ltd.’s holdings, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZM. AM Squared Ltd bought a new stake in shares of Zoom Video Communications during the third quarter valued at about $28,000. Money Concepts Capital Corp increased its position in shares of Zoom Video Communications by 821.2% during the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after buying an additional 427 shares during the period. Global Wealth Management Investment Advisory Inc. increased its position in shares of Zoom Video Communications by 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after buying an additional 114 shares during the period. Allworth Financial LP increased its position in shares of Zoom Video Communications by 101.4% during the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after buying an additional 282 shares during the period. Finally, Neo Ivy Capital Management increased its position in shares of Zoom Video Communications by 56.8% during the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zoom Video Communications

In other 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 transaction, the chief executive officer now owns 95,140 shares of the company’s stock, valued at approximately $5,896,777.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 27,963 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,456 shares of company stock valued at $5,539,710. 11.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ZM has been the subject of several recent 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 report on Friday, January 12th. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, March 26th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Jefferies Financial Group started coverage on Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price for the company. Finally, Mizuho decreased their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Stock Performance

Shares of ZM traded down $0.89 during mid-day trading on Friday, hitting $61.63. 2,718,733 shares of the stock were exchanged, compared to its average volume of 2,435,947. The company has a market cap of $18.95 billion, a PE ratio of 30.21 and a beta of -0.07. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The firm has a 50-day moving average of $65.28 and a two-hundred day moving average of $66.27.

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