Mirae Asset Global Investments Co. Ltd. Acquires 17,831 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 93.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,867 shares of the company’s stock after buying an additional 17,831 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Zoom Video Communications were worth $2,564,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Zoom Video Communications during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Zoom Video Communications in the 2nd quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications during the 2nd quarter valued at about $41,000. Allworth Financial LP increased its stake in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings 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. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Trading Down 1.0 %

NASDAQ ZM opened at $74.78 on Thursday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $75.96. The stock has a market cap of $23.02 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 6.26 and a beta of -0.04. The company’s 50 day moving average is $69.39 and its two-hundred day moving average is $63.21.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $0.55 EPS. Zoom Video Communications’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ZM shares. Wells Fargo & Company raised their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Wedbush began coverage on Zoom Video Communications in a research note on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price target for the company. Benchmark increased their price objective 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. Piper Sandler reduced their price objective on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.32.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the sale, the chief operating officer now directly owns 2,809 shares in the company, valued at approximately $191,264.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $56.12, for a total value of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares in the company, valued at $5,070,666.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now owns 2,809 shares in the company, valued at $191,264.81. This represents a 0.00 % decrease in their ownership of the stock. 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 90 days. 10.78% of the stock is currently owned by corporate insiders.

About Zoom Video Communications

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.