Evergreen Capital Management LLC Increases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Evergreen Capital Management LLC increased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,752 shares of the company’s stock after buying an additional 618 shares during the quarter. Evergreen Capital Management LLC’s holdings in Zoom Video Communications were worth $2,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ZM. Pacer Advisors Inc. increased its stake in Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after acquiring an additional 2,579,720 shares during the last quarter. Acadian Asset Management LLC grew its stake 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 valued at $290,153,000 after buying an additional 1,855,679 shares in the last quarter. Vanguard Group Inc. grew its stake 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 valued at $1,683,950,000 after buying an additional 721,923 shares in the last quarter. Retirement Systems of Alabama acquired a new stake in shares of Zoom Video Communications in the first quarter valued at $42,289,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at $34,562,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $68.79 on Tuesday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77. The company has a market capitalization of $21.28 billion, a P/E ratio of 25.67, a PEG ratio of 5.83 and a beta of -0.05. The stock has a 50-day simple moving average of $62.93 and a 200-day simple moving average of $62.27.

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

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,810 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $57.14, for a total transaction of $2,160,463.40. Following the completion of the sale, the chief executive officer now directly owns 113,684 shares of the company’s stock, valued at approximately $6,495,903.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 approximately $5,070,666.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 37,810 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $57.14, for a total value of $2,160,463.40. Following the transaction, the chief executive officer now owns 113,684 shares in the company, valued at approximately $6,495,903.76. The disclosure for this sale can be found here. Insiders sold a total of 128,915 shares of company stock valued at $7,661,812 in the last ninety days. Insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of research reports. UBS Group raised Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Benchmark reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research note on Monday, August 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Bank of America lowered their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $74.68.

Zoom Video Communications Profile

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.