Zoom Video Communications, Inc. (NASDAQ:ZM) Position Increased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 340.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,104 shares of the company’s stock after acquiring an additional 2,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Zoom Video Communications were worth $216,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ZM. Hudson Capital Management LLC lifted its holdings in Zoom Video Communications by 3.0% in the third quarter. Hudson Capital Management LLC now owns 66,861 shares of the company’s stock worth $4,663,000 after purchasing an additional 1,975 shares during the period. Sanders Morris Harris LLC acquired a new stake in Zoom Video Communications during the 3rd quarter worth about $202,000. Perpetual Ltd raised its holdings in Zoom Video Communications by 44.7% during the 3rd quarter. Perpetual Ltd now owns 23,244 shares of the company’s stock worth $1,621,000 after buying an additional 7,176 shares during the period. Wedmont Private Capital acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at about $203,000. Finally, CWM LLC increased its holdings in shares of Zoom Video Communications by 657.7% in the 3rd quarter. CWM LLC now owns 62,917 shares of the company’s stock valued at $4,388,000 after purchasing an additional 54,613 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,074 shares of company stock valued at $9,595,146. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 3.9 %

NASDAQ:ZM opened at $67.89 on Tuesday. The business’s 50-day simple moving average is $65.86 and its two-hundred day simple moving average is $62.47. The stock has a market cap of $21.00 billion, a PE ratio of 25.33, a P/E/G ratio of 6.11 and a beta of -0.04. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.77.

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. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZM has been the subject of several recent research reports. Piper Sandler lowered their price target on 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. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Wells Fargo & Company raised their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Robert W. Baird decreased their price target 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, Bank of America reduced their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.05.

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.