The Vanguard Group, Inc. has recently announced that it has increased stake in Zoom Video Communications Inc (NASDAQ:ZM) by 4.62%. After grabbing 22.17 million shares, the institutional investor is now in possession of 0.98 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.60% having worth around $1.59 billion. Moreover, ARK Investment Management LLC increased its share by 0.78 million to have a control over 10.96 million shares. And BlackRock Fund Advisors raised its holdings to 0.46 million shares by acquiring 9.92 million shares or 3.85% of the stake.
Zoom Video Communications Inc (ZM) concluded trading on Thursday at a closing price of $67.42, with 2.67 million shares of worth about $179.83 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.18% during that period and on Thursday, January 25 the price saw a loss of about -2.35%. Currently the company’s common shares owned by public are about 247.15M shares, out of which, 229.97M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 145 times over the past 12 months. They bought 407,392 shares in 43 of the transactions. In 102 selling transactions, insiders dumped 403,674 shares.
ARK Innovation ETF, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Zoom Video Communications Inc ARK Innovation ETF is currently holding 8.6 million shares of worth totaling $618.42 million. The company recently came selling 39824.0 shares which brought its stake up to 3.34% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 0.13 million shares, after which its hold over company’s outstanding shares expand to 2.83%, leaving 7.29 million shares with the mutual fund that have a worth of about $524.56 million. Vanguard Mid Cap Index Fund, after selling 5.2 million shares, have now control over 2.02% of the stake in the company. It holds 1660.0 shares of worth $374.07 million.
Stock saw a price change of 0.15% in past 5 days and over the past one month there was a price change of -7.01%. Year-to-date (YTD), ZM shares are showing a performance of -6.24% which decreased to -2.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $58.87 but also hit the highest price of $85.13 during that period. The average intraday trading volume for Zoom Video Communications Inc shares is 3.81 million. The stock is currently trading -2.90% below its 20-day simple moving average (SMA20), while that difference is down -1.87% for SMA50 and it goes to -0.04% lower than SMA200.
The Vanguard Group, Inc. acquired 22.17 million shares of Zoom Video Communications Inc having value of about $1.59 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.98 million shares in the company valued at close to $66058925.04, or have control over 4.62% stake in the company. Zoom Video Communications Inc (NASDAQ: ZM) currently have 247.15M outstanding shares and institutions hold larger chunk of about 56.05% of that. Holding of mutual funds in the company is about 32.71% while other institutional holders and individual stake holders have control over 33.96% and 2.55% of the stake respectively.
The stock has a current market capitalization of $20.52B and its 3Y-monthly beta is at -0.09. PE ratio of stock for trailing 12 months is 90.45, while it has posted earnings per share of $0.75 in the same period. Its PEG reads 60.30 and has Quick Ratio of 4.15 while making debt-to-equity ratio of 0.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ZM, volatility over the week remained 2.45% while standing at 2.50% over the month.
Analysts are in expectations that Zoom Video Communications Inc (ZM) stock would likely to be making an EPS of $General Motors Company in the current quarter, while forecast for next quarter EPS is $35.16 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Qualtrics International Inc. which is $Macy’s Inc at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Zscaler, Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -1.03% while it is estimated to increase by 1.35% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Exane BNP Paribas on January 18, 2024 offering an Underperform rating for the stock and assigned a target price of $60 to it.
