Sei Investments Co. Has $60.72 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Sei Investments Co. lowered its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,389 shares of the company’s stock after selling 22,924 shares during the period. Sei Investments Co.’s holdings in Zoom Video Communications were worth $60,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Zoom Video Communications by 11.6% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 240 shares of the company’s stock valued at $81,000 after purchasing an additional 25 shares in the last quarter. Berman Capital Advisors LLC boosted its stake in shares of Zoom Video Communications by 13.9% in the 4th quarter. Berman Capital Advisors LLC now owns 229 shares of the company’s stock valued at $76,000 after purchasing an additional 28 shares in the last quarter. Atticus Wealth Management LLC boosted its stake in shares of Zoom Video Communications by 14.9% in the 1st quarter. Atticus Wealth Management LLC now owns 231 shares of the company’s stock valued at $74,000 after purchasing an additional 30 shares in the last quarter. Firestone Capital Management boosted its stake in shares of Zoom Video Communications by 6.6% in the 1st quarter. Firestone Capital Management now owns 643 shares of the company’s stock valued at $207,000 after purchasing an additional 40 shares in the last quarter. Finally, Corient Capital Partners LLC boosted its stake in shares of Zoom Video Communications by 3.2% in the 4th quarter. Corient Capital Partners LLC now owns 1,348 shares of the company’s stock valued at $455,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company’s stock.

In related news, COO Aparna Bawa sold 2,593 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $329.48, for a total value of $854,341.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 15,625 shares of the business’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $319.90, for a total value of $4,998,437.50. Following the completion of the transaction, the chief executive officer now owns 11,545 shares of the company’s stock, valued at $3,693,245.50. The disclosure for this sale can be found here. Insiders sold a total of 136,201 shares of company stock valued at $43,528,954 over the last quarter. 12.27% of the stock is owned by insiders.

Shares of ZM stock opened at $346.50 on Friday. The company has a market cap of $101.77 billion, a PE ratio of 154.00, a PEG ratio of 10.01 and a beta of -1.49. The company has a 50-day moving average of $321.51. Zoom Video Communications, Inc. has a one year low of $216.75 and a one year high of $588.84.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, May 31st. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.33. The company had revenue of $956.24 million during the quarter, compared to analysts’ expectations of $908.17 million. Zoom Video Communications had a return on equity of 37.79% and a net margin of 25.34%. Zoom Video Communications’s revenue was up 191.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. On average, analysts forecast that Zoom Video Communications, Inc. will post 2.22 EPS for the current fiscal year.

A number of research analysts recently issued reports on the company. Royal Bank of Canada cut their price target on Zoom Video Communications from $550.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, May 28th. DA Davidson reaffirmed a “buy” rating on shares of Zoom Video Communications in a report on Wednesday, May 5th. Piper Sandler cut their price target on Zoom Video Communications from $541.00 to $464.00 and set an “overweight” rating for the company in a report on Wednesday, June 2nd. Bank of America assumed coverage on Zoom Video Communications in a report on Tuesday, April 20th. They issued a “buy” rating for the company. Finally, Rosenblatt Securities lifted their price target on Zoom Video Communications from $350.00 to $400.00 and gave the company a “neutral” rating in a report on Tuesday, March 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Zoom Video Communications has an average rating of “Hold” and an average target price of $426.19.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

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

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