Zoom Video Communications, Inc. (NASDAQ:ZM) Holdings Lifted by Swedbank AB

Swedbank AB boosted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,896 shares of the company’s stock after buying an additional 2,518 shares during the quarter. Swedbank AB’s holdings in Zoom Video Communications were worth $2,922,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Creative Planning lifted its stake in Zoom Video Communications by 18.5% in the 3rd quarter. Creative Planning now owns 34,522 shares of the company’s stock worth $2,408,000 after acquiring an additional 5,396 shares in the last quarter. Harrington Investments INC raised its stake in shares of Zoom Video Communications by 12.4% during the 3rd quarter. Harrington Investments INC now owns 18,645 shares of the company’s stock worth $1,300,000 after purchasing an additional 2,055 shares in the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of Zoom Video Communications in the 3rd quarter valued at approximately $397,000. Wynn Capital LLC raised its stake in shares of Zoom Video Communications by 5.8% in the 3rd quarter. Wynn Capital LLC now owns 9,834 shares of the company’s stock valued at $686,000 after acquiring an additional 540 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Zoom Video Communications by 340.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,104 shares of the company’s stock valued at $216,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the transaction, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the transaction, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,762 shares of company stock valued at $10,584,251 over the last three months. Company insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Benchmark raised their target price on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Piper Sandler lowered their target price on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Robert W. Baird lowered their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.32.

Zoom Video Communications Trading Up 0.5 %

NASDAQ:ZM opened at $70.52 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 5.85 and a beta of -0.04. The stock has a 50-day moving average price of $66.94 and a two-hundred day moving average price of $62.63.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm 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 firm earned $0.55 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

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.