Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Forsta AP Fonden

Forsta AP Fonden lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,500 shares of the company’s stock after acquiring an additional 5,100 shares during the quarter. Forsta AP Fonden’s holdings in Zoom Video Communications were worth $3,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZM. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the 2nd quarter valued at about $33,000. Allworth Financial LP raised its holdings in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications during the second quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the second quarter worth approximately $41,000. Finally, Versant Capital Management Inc grew its position in Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after buying an additional 893 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZM. Bank of America reduced their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Piper Sandler reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Finally, UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $75.32.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the completion of the transaction, the chief executive officer now owns 57,371 shares of the company’s stock, valued at approximately $4,099,157.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the completion of the transaction, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at $5,070,666.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 35,722 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the completion of the sale, the chief executive officer now directly owns 57,371 shares in the company, valued at $4,099,157.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,477 shares of company stock worth $12,842,978 in the last ninety days. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $75.50 on Wednesday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $75.96. The company has a market cap of $23.24 billion, a P/E ratio of 28.17, a P/E/G ratio of 6.26 and a beta of -0.04. The stock’s 50-day moving average is $69.10 and its 200-day moving average is $63.13.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS 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.