Pacer Advisors Inc. Purchases 2,579,720 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Pacer Advisors Inc. boosted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 96.7% during the second quarter, Holdings Channel.com reports. The fund owned 5,246,938 shares of the company’s stock after acquiring an additional 2,579,720 shares during the period. Pacer Advisors Inc.’s holdings in Zoom Video Communications were worth $310,566,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $25,000. Dimensional Fund Advisors LP boosted its holdings in Zoom Video Communications by 30.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,033,500 shares of the company’s stock valued at $74,332,000 after acquiring an additional 242,944 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Zoom Video Communications during the 4th quarter valued at $780,000. Quadrant Capital Group LLC raised 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 worth $26,000 after purchasing an additional 267 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Zoom Video Communications by 7.3% in the 4th quarter. D.A. Davidson & CO. now owns 8,581 shares of the company’s stock worth $617,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction 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 legal 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 firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the transaction, the insider now directly owns 82,792 shares of the company’s stock, valued at $4,731,562.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,915 shares of company stock valued at $7,661,812. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Up 0.9 %

Shares of NASDAQ ZM opened at $67.53 on Friday. The firm has a market cap of $20.89 billion, a P/E ratio of 25.20, a PEG ratio of 5.83 and a beta of -0.05. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $74.77. The company has a 50 day moving average of $62.72 and a 200 day moving average of $62.32.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZM. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Robert W. Baird decreased their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.68.

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.