Hodges Capital Management Inc. Has $306,000 Position in Zoom Video Communications Inc (NASDAQ:ZM)

Hodges Capital Management Inc. cut its stake in Zoom Video Communications Inc (NASDAQ:ZM) by 47.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 650 shares of the company’s stock after selling 579 shares during the quarter. Hodges Capital Management Inc.’s holdings in Zoom Video Communications were worth $306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley raised its holdings in Zoom Video Communications by 144.6% in the 1st quarter. Morgan Stanley now owns 12,187,772 shares of the company’s stock valued at $1,780,877,000 after buying an additional 7,205,678 shares during the last quarter. Vanguard Group Inc. raised its holdings in Zoom Video Communications by 164.4% during the 2nd quarter. Vanguard Group Inc. now owns 10,278,000 shares of the company’s stock worth $2,605,884,000 after purchasing an additional 6,390,753 shares during the last quarter. Hillhouse Capital Advisors LTD. raised its holdings in Zoom Video Communications by 10.7% during the 2nd quarter. Hillhouse Capital Advisors LTD. now owns 6,856,980 shares of the company’s stock worth $1,738,519,000 after purchasing an additional 662,543 shares during the last quarter. Coatue Management LLC raised its holdings in Zoom Video Communications by 323.1% during the 2nd quarter. Coatue Management LLC now owns 2,521,307 shares of the company’s stock worth $639,253,000 after purchasing an additional 1,925,382 shares during the last quarter. Finally, FIL Ltd raised its holdings in Zoom Video Communications by 12.2% during the 2nd quarter. FIL Ltd now owns 1,470,878 shares of the company’s stock worth $372,927,000 after purchasing an additional 160,438 shares during the last quarter. Institutional investors own 37.97% of the company’s stock.

Shares of NASDAQ:ZM opened at $559.00 on Friday. The company’s 50-day moving average is $434.18 and its 200 day moving average is $265.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $158.99 billion, a P/E ratio of 716.67, a price-to-earnings-growth ratio of 9.67 and a beta of -1.24. Zoom Video Communications Inc has a fifty-two week low of $60.97 and a fifty-two week high of $565.45.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, August 31st. The company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.47. The company had revenue of $663.50 million for the quarter, compared to the consensus estimate of $500.37 million. Zoom Video Communications had a net margin of 17.10% and a return on equity of 27.93%. The firm’s quarterly revenue was up 354.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. As a group, research analysts predict that Zoom Video Communications Inc will post 1.59 earnings per share for the current year.

In related news, CMO Janine Pelosi sold 9,375 shares of Zoom Video Communications stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $500.53, for a total value of $4,692,468.75. Following the completion of the transaction, the chief marketing officer now directly owns 10,763 shares in the company, valued at approximately $5,387,204.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 7,500 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $244.12, for a total transaction of $1,830,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 257,217 shares of company stock worth $89,878,964 over the last 90 days. 24.25% of the stock is currently owned by corporate insiders.

ZM has been the subject of several analyst reports. Zacks Investment Research lowered shares of Zoom Video Communications from a “strong-buy” rating to a “hold” rating and set a $281.00 price target for the company. in a report on Friday, August 7th. FBN Securities lifted their price objective on shares of Zoom Video Communications from $250.00 to $525.00 and gave the company an “outperform” rating in a research note on Tuesday, September 1st. Goldman Sachs Group upgraded shares of Zoom Video Communications from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $187.00 to $402.00 in a research note on Tuesday, September 1st. BTIG Research lifted their price objective on shares of Zoom Video Communications from $500.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup lifted their price objective on shares of Zoom Video Communications from $217.00 to $377.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $410.50.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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