Healthcare of Ontario Pension Plan Trust Fund Invests $9.47 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 160,000 shares of the company’s stock, valued at approximately $9,470,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings 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 buying an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC boosted its stake in Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after acquiring an additional 2,520,987 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after purchasing an additional 1,855,679 shares during the period. Vanguard Group Inc. increased its stake in 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 purchasing an additional 721,923 shares in the last quarter. Finally, Retirement Systems of Alabama acquired a new stake in Zoom Video Communications in the first quarter worth $42,289,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 2.2 %

ZM stock opened at $68.66 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.77. The business has a 50-day simple moving average of $64.64 and a 200 day simple moving average of $62.40. The company has a market cap of $21.13 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 5.83 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 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 revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ZM. Piper Sandler dropped their target price on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company increased their target price 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. Bank of America lowered their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Benchmark restated a “buy” rating and set a $83.00 price objective on shares of Zoom Video Communications in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.68.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 2,493 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $58.26, for a total value of $145,242.18. Following the completion of the transaction, the chief accounting officer now owns 2,367 shares of the company’s stock, valued at $137,901.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 90,354 shares in the company, valued at approximately $5,070,666.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 2,493 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $58.26, for a total transaction of $145,242.18. Following the transaction, the chief accounting officer now owns 2,367 shares in the company, valued at $137,901.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,809 shares of company stock worth $7,976,857 over the last three months. Corporate 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.