Primecap Management Co. CA Has $72.30 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Primecap Management Co. CA grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 89.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,005,450 shares of the company’s stock after purchasing an additional 474,700 shares during the period. Primecap Management Co. CA owned approximately 0.33% of Zoom Video Communications worth $72,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ZM. Principal Securities Inc. purchased a new position in Zoom Video Communications during the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its stake in shares of Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after buying an additional 267 shares during the period. AM Squared Ltd purchased a new position in shares of Zoom Video Communications during the 3rd quarter valued at $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Zoom Video Communications in the fourth quarter worth $32,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth $43,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 0.9 %

NASDAQ ZM traded up $0.59 during trading on Friday, hitting $63.01. The company’s stock had a trading volume of 7,322,418 shares, compared to its average volume of 3,156,012. Zoom Video Communications, Inc. has a 52 week low of $58.87 and a 52 week high of $75.90. The firm has a market cap of $19.38 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 10.81 and a beta of -0.05. The firm has a 50 day moving average price of $63.06 and a 200 day moving average price of $65.91.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. On average, equities analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Wall Street Analyst Weigh In

ZM has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday. Citigroup raised their price objective on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company decreased their target price on shares of Zoom Video Communications from $70.00 to $60.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, Mizuho cut their price target on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.18.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total value of $317,243.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total value of $317,243.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 21,968 shares of the stock in a transaction dated 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 approximately $119,036.04. The disclosure for this sale can be found here. Insiders sold a total of 101,170 shares of company stock valued at $6,356,101 in the last quarter. Corporate insiders own 10.78% 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.