5 Best Stocks to Buy According to Billionaire Zhang Lei

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

Number of Hedge Fund Holders: 54

Zoom Video Communications, Inc., headquartered in San Jose, California, is an American company that deals with communications technology. Specifically, the company offers a video communication platform in all five continents.

Zhang Lei’s firm Hillhouse Capital Management, Ltd. owns 6.27% of the company as it holds 1,975,966 shares which are valued at a total of $634,858,000.

Artisan Partners, in its Q1 2021 investor letter, mentioned Zoom Video Communications, Inc. (NASDAQ: ZM). Here is what the fund said:

“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.”