Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS grew its position in Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 10.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,341 shares of the company’s stock after purchasing an additional 3,718 shares during the period. DnB Asset Management AS’s holdings in Zoom Video Communications were worth $4,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank lifted its position in Zoom Video Communications by 28.5% during the 1st quarter. Amalgamated Bank now owns 24,690 shares of the company’s stock worth $2,894,000 after acquiring an additional 5,470 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in Zoom Video Communications during the 1st quarter worth approximately $54,000. American Trust acquired a new position in Zoom Video Communications during the 1st quarter worth approximately $481,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Zoom Video Communications by 4.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 368,023 shares of the company’s stock worth $43,143,000 after purchasing an additional 15,808 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Zoom Video Communications by 28.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,269 shares of the company’s stock worth $266,000 after purchasing an additional 496 shares during the last quarter. 52.86% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $78.32 on Tuesday. Zoom Video Communications, Inc. has a 1 year low of $76.75 and a 1 year high of $291.31. The stock has a fifty day moving average of $96.66 and a two-hundred day moving average of $103.88. The firm has a market capitalization of $23.31 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 4.33 and a beta of -0.49.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its quarterly earnings data on Monday, August 22nd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Zoom Video Communications had a return on equity of 11.87% and a net margin of 23.05%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Equities research analysts predict that Zoom Video Communications, Inc. will post 1.3 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $116.62, for a total transaction of $233,240.00. Following the transaction, the chief operating officer now directly owns 77,676 shares of the company’s stock, valued at $9,058,575.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Velchamy Sankarlingam sold 2,319 shares of the company’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $109.79, for a total transaction of $254,603.01. Following the transaction, the insider now directly owns 10,863 shares of the company’s stock, valued at $1,192,648.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $116.62, for a total value of $233,240.00. Following the transaction, the chief operating officer now directly owns 77,676 shares in the company, valued at $9,058,575.12. The disclosure for this sale can be found here. Insiders have sold 32,823 shares of company stock valued at $3,526,086 over the last three months. Company insiders own 11.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZM. The Goldman Sachs Group dropped their price objective on Zoom Video Communications from $142.00 to $122.00 and set a “neutral” rating on the stock in a report on Tuesday, August 23rd. Piper Sandler dropped their price objective on Zoom Video Communications from $115.00 to $91.00 and set a “neutral” rating on the stock in a report on Tuesday, August 23rd. Morgan Stanley dropped their price objective on Zoom Video Communications from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, August 23rd. KeyCorp began coverage on Zoom Video Communications in a report on Monday, September 12th. They set a “sector weight” rating on the stock. Finally, Stifel Nicolaus dropped their price objective on Zoom Video Communications from $120.00 to $90.00 in a report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.58.

Zoom Video Communications Company Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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