LSV Asset Management Acquires Shares of 437,122 Zoom Video Communications, Inc. (NASDAQ:ZM)

LSV Asset Management acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 437,122 shares of the company’s stock, valued at approximately $25,873,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after buying an additional 721,923 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Zoom Video Communications by 4.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock worth $434,785,000 after buying an additional 233,321 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares in the last quarter. FIL Ltd lifted its holdings in shares of Zoom Video Communications by 1.3% in the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after buying an additional 40,456 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Zoom Video Communications in the fourth quarter worth about $164,224,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $56.12, for a total value of $135,810.40. Following the transaction, the chief executive officer now owns 90,354 shares in the company, valued at $5,070,666.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the completion of the sale, the chief executive officer now owns 90,354 shares of the company’s stock, valued at $5,070,666.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 11,060 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $632,079.00. Following the completion of the sale, the chief operating officer now directly owns 12,310 shares of the company’s stock, valued at approximately $703,516.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,389 shares of company stock worth $6,999,209. Insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Piper Sandler lowered their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI lowered their target price on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, May 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Finally, Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research note on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average price target of $75.10.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $66.59 on Tuesday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.77. The stock has a market capitalization of $20.50 billion, a P/E ratio of 24.85, a PEG ratio of 5.90 and a beta of -0.05. The firm’s 50 day simple moving average is $61.00 and its two-hundred day simple moving average is $62.29.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $0.55 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.69 earnings per share for the current fiscal year.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified 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; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.