Assenagon Asset Management S.A. Purchases 9,586 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Assenagon Asset Management S.A. increased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 551,677 shares of the company’s stock after acquiring an additional 9,586 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of Zoom Video Communications worth $38,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares in the last quarter. Acadian Asset Management LLC raised its position in Zoom Video Communications by 60.9% in 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 last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Zoom Video Communications by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after purchasing an additional 264,217 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Zoom Video Communications by 20.0% during the second quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock worth $75,794,000 after purchasing an additional 213,575 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 0.2 %

ZM opened at $72.66 on Friday. The company has a fifty day moving average price of $67.90 and a two-hundred day moving average price of $62.81. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77. The company has a market cap of $22.36 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 6.22 and a beta of -0.04.

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

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the completion of the transaction, the chief executive officer now directly owns 90,354 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at $5,070,666.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction that occurred 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 in the company, valued at approximately $6,285,780. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,477 shares of company stock worth $12,842,978 in the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird cut their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note 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 for the company in a research report on Wednesday, July 10th. Benchmark upped their price target on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $75.32.

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.