Rhumbline Advisers Grows Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Rhumbline Advisers increased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 300,495 shares of the company’s stock after buying an additional 4,949 shares during the quarter. Rhumbline Advisers’ holdings in Zoom Video Communications were worth $17,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in Zoom Video Communications in the 4th quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its holdings in Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in Zoom Video Communications in the 4th quarter valued at approximately $32,000. Innealta Capital LLC purchased a new stake in Zoom Video Communications in the 2nd quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 0.9 %

Shares of NASDAQ ZM opened at $66.59 on Tuesday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77. The firm has a fifty day moving average of $61.00 and a 200-day moving average of $62.29. The stock has a market capitalization of $20.59 billion, a PE ratio of 24.85, a P/E/G ratio of 5.90 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.55 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZM. Stifel Nicolaus lowered their price objective on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. UBS Group raised Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Citigroup boosted their price target on Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $75.10.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 11,060 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,272 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total value of $186,994.80. Following the completion of the transaction, the insider now directly owns 82,792 shares of the company’s stock, valued at approximately $4,731,562.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 11,060 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total transaction of $632,079.00. Following the completion of the transaction, the chief operating officer now directly owns 12,310 shares of the company’s stock, valued at $703,516.50. The disclosure for this sale can be found here. In the last three months, insiders sold 119,389 shares of company stock valued at $6,999,209. Company insiders own 10.78% of the company’s stock.

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.