3,400 Shares in Zoom Video Communications Inc (NASDAQ:ZM) Bought by Riverhead Capital Management LLC

Riverhead Capital Management LLC bought a new position in shares of Zoom Video Communications Inc (NASDAQ:ZM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,400 shares of the company’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZM. Atika Capital Management LLC bought a new position in shares of Zoom Video Communications in the second quarter valued at $3,285,000. First Allied Advisory Services Inc. purchased a new stake in shares of Zoom Video Communications in the second quarter valued at about $262,000. Bank of New York Mellon Corp purchased a new stake in shares of Zoom Video Communications in the second quarter valued at about $1,256,000. M&T Bank Corp purchased a new stake in shares of Zoom Video Communications in the second quarter valued at about $268,000. Finally, LPL Financial LLC purchased a new stake in shares of Zoom Video Communications in the second quarter valued at about $1,269,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ ZM traded down $1.54 during trading hours on Friday, reaching $79.99. 22,228 shares of the company were exchanged, compared to its average volume of 1,960,802. Zoom Video Communications Inc has a 1 year low of $59.94 and a 1 year high of $107.34. The firm has a 50 day simple moving average of $92.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 4.46.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The company had revenue of $145.80 million for the quarter, compared to analysts’ expectations of $130.55 million. The business’s revenue was up 95.7% compared to the same quarter last year. As a group, analysts forecast that Zoom Video Communications Inc will post -0.06 EPS for the current fiscal year.

Several analysts have recently commented on ZM shares. FBN Securities started coverage on shares of Zoom Video Communications in a report on Tuesday. They issued a “sector perform” rating and a $85.00 target price for the company. Royal Bank of Canada increased their target price on shares of Zoom Video Communications from $86.00 to $99.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Stifel Nicolaus set a $90.00 target price on shares of Zoom Video Communications and gave the company a “hold” rating in a report on Friday, September 6th. Summit Insights reiterated a “sell” rating on shares of Zoom Video Communications in a report on Tuesday, May 21st. Finally, Goldman Sachs Group downgraded shares of Zoom Video Communications from a “neutral” rating to a “sell” rating and increased their target price for the company from $53.00 to $66.00 in a report on Sunday, June 30th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $89.84.

Zoom Video Communications Profile

Zoom Video Communications, Inc provides a video-first communications platform that delivers 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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