Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 297.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 639,669 shares of the company’s stock after acquiring an additional 478,769 shares during the period. Canada Pension Plan Investment Board owned about 0.21% of Zoom Video Communications worth $41,815,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC raised its position in Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after buying an additional 267 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in Zoom Video Communications during the 4th quarter worth $32,000. Rakuten Securities Inc. purchased a new position in Zoom Video Communications during the 4th quarter worth $43,000. Finally, GAMMA Investing LLC purchased a new position in Zoom Video Communications during the 4th quarter worth $48,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZM. Robert W. Baird cut their price objective on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Stifel Nicolaus cut their price objective on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, May 21st. Citigroup upped their price objective on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Finally, Wells Fargo & Company lowered their price target on shares of Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus target price of $75.22.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total value of $317,243.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Aparna Bawa sold 10,332 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $56.81, for a total transaction of $586,960.92. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $112,370.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total transaction of $317,243.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,636 shares of company stock worth $7,242,839. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 0.8 %

Shares of NASDAQ ZM opened at $60.09 on Friday. The stock has a market cap of $18.58 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 9.22 and a beta of -0.05. Zoom Video Communications, Inc. has a 52 week low of $55.63 and a 52 week high of $75.90. The company’s 50-day moving average price is $59.70 and its 200 day moving average price is $63.04.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. As a group, research analysts expect that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

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.