Light Street Capital Portfolio: Top 5 Stocks

3. Zoom Video Communications, Inc. (NASDAQ:ZM)

Light Street Capital’s Stake Value: $86.06 million
Percentage of Light Street Capital’s 13F Portfolio: 3.73%
Number of Hedge Fund Holders: 59

Next in line among Light Street Capital’s top 5 picks is Zoom Video Communications, Inc. (NASDAQ:ZM) is a communications technology company based in California. The company provides a videotelephony platform and online chat services that are used for teleconferencing, telecommuting, and social interactions.

Light Street Capital currently holds 222,350 shares of Zoom Video Communications, Inc. (NASDAQ:ZM), up by 318% over the quarter.

Of the 873 funds tracked by Insider Monkey, 59 were long Zoom Video Communications, Inc. (NASDAQ:ZM) at the end of June, up from 54 in the first quarter of 2021.

On October 22, JPMorgan analyst Sterling Auty upgraded Zoom Video Communications, Inc. (NASDAQ:ZM) to Overweight from Neutral with an unchanged price target of $385.

In its investor letter for the first quarter of 2021, Artisan Partners, an asset management firm, highlighted a few stocks and Zoom Video Communications, Inc. (NASDAQ:ZM) was one of them:

“We concluded our campaigns in Zoom Video Communications. We have been paring our position in Zoom for several quarters, anticipating the reduced need for video conferencing as vaccination rates climb and people return to their workplaces. That said, we believe there is a strong case to be made that the pandemic has prompted a permanent inflection in videoconferencing’s importance—sustainably higher remote work arrangements, more online learning and less business travel. Furthermore, the company’s dramatically expanded user base (up 485% YoY in Q3) positions it well to cross sell additional services, Zoom Phone in particular. The long-term future remains bright, but we decided to end our successful investment campaign in favor of opportunities in our pipeline with more attractive near-term growth prospects.”