Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 60.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,902,397 shares of the company’s stock after acquiring an additional 1,855,679 shares during the period. Zoom Video Communications makes up 0.9% of Acadian Asset Management LLC’s portfolio, making the stock its 17th biggest position. Acadian Asset Management LLC’s holdings in Zoom Video Communications were worth $290,153,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in shares of Zoom Video Communications during the 4th quarter valued at about $345,000. Charles Schwab Investment Management Inc. lifted its position in shares of Zoom Video Communications by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,625 shares of the company’s stock worth $77,348,000 after purchasing an additional 81,215 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at $25,000. BNP Paribas Financial Markets grew its holdings in Zoom Video Communications by 109.4% during the 4th quarter. BNP Paribas Financial Markets now owns 776,365 shares of the company’s stock valued at $55,828,000 after purchasing an additional 405,553 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Zoom Video Communications during the 4th quarter worth $1,515,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $56.12, for a total transaction 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 approximately $5,070,666.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,415 shares of company stock worth $7,189,817. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 0.1 %

Shares of NASDAQ ZM opened at $67.18 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.82. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 5.98 and a beta of -0.05. The stock’s 50 day simple moving average is $60.85 and its 200 day simple moving average is $62.25.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company 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 firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. As a group, equities analysts forecast that Zoom Video Communications, Inc. will post 2.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ZM shares. 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 dropped their price objective 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. Bank of America cut their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Citigroup raised their price target 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, Piper Sandler cut their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $75.10.

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.