Tokio Marine Asset Management Co. Ltd. Acquires 775 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,303 shares of the company’s stock after acquiring an additional 775 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Zoom Video Communications were worth $525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AM Squared Ltd bought a new stake in Zoom Video Communications during the third quarter valued at about $28,000. Allworth Financial LP increased its holdings in shares of Zoom Video Communications by 101.4% in the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Zoom Video Communications in the fourth quarter worth about $43,000. GAMMA Investing LLC bought a new stake in shares of Zoom Video Communications in the fourth quarter worth about $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Zoom Video Communications by 134.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock worth $51,000 after purchasing an additional 404 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZM. Jefferies Financial Group began coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price on the stock. Mizuho reduced their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. JPMorgan Chase & Co. reduced their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Piper Sandler lifted their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Finally, BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average target price of $77.56.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Aparna Bawa sold 816 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at $131,734.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total value of $297,215.52. The disclosure for this sale can be found here. Insiders sold 93,224 shares of company stock worth $5,872,091 over the last 90 days. Company insiders own 11.28% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $62.00 on Friday. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $75.90. The business has a 50 day simple moving average of $64.57 and a two-hundred day simple moving average of $65.77. The firm has a market capitalization of $19.07 billion, a PE ratio of 30.39 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

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.