Skandinaviska Enskilda Banken AB publ Purchases 362,123 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Skandinaviska Enskilda Banken AB publ increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 717.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412,595 shares of the company’s stock after buying an additional 362,123 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Zoom Video Communications were worth $24,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. DCF Advisers LLC bought a new position in shares of Zoom Video Communications during the second quarter valued at about $1,776,000. Canada Pension Plan Investment Board boosted its holdings in Zoom Video Communications by 0.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 644,606 shares of the company’s stock valued at $38,154,000 after acquiring an additional 4,937 shares during the period. Intech Investment Management LLC lifted its position in Zoom Video Communications by 62.6% in the second quarter. Intech Investment Management LLC now owns 15,295 shares of the company’s stock valued at $905,000 after purchasing an additional 5,888 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $1,489,000. Finally, Ibex Investors LLC bought a new position in shares of Zoom Video Communications in the second quarter worth approximately $207,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $67.53 on Friday. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 5.83 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77. The firm’s 50-day moving average is $62.72 and its 200 day moving average is $62.32.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Robert W. Baird lowered their price target 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. Benchmark reiterated a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research report on Monday, August 5th. Finally, Wells Fargo & Company upped their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.68.

Insider Transactions at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total transaction of $591,649.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The disclosure for this sale can be found here. Insiders sold 128,915 shares of company stock worth $7,661,812 over the last quarter. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Company 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.