Pacer Advisors Inc. Has $69.68 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Pacer Advisors Inc. reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,026,557 shares of the company’s stock after selling 78,579 shares during the quarter. Pacer Advisors Inc. owned 0.35% of Zoom Video Communications worth $69,683,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Money Concepts Capital Corp grew its holdings in shares of Zoom Video Communications by 821.2% during the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock worth $32,000 after purchasing an additional 427 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Zoom Video Communications by 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Neo Ivy Capital Management grew its holdings in shares of Zoom Video Communications by 56.8% during the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Zoom Video Communications by 69.2% during the first quarter. Allworth Financial LP now owns 587 shares of the company’s stock worth $43,000 after purchasing an additional 240 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company’s stock worth $46,000 after purchasing an additional 171 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Down 1.9 %

Shares of NASDAQ ZM traded down $1.34 during midday trading on Tuesday, reaching $69.29. The company had a trading volume of 674,558 shares, compared to its average volume of 3,918,767. Zoom Video Communications, Inc. has a one year low of $60.45 and a one year high of $89.67. The firm’s fifty day moving average price is $69.80 and its 200-day moving average price is $68.41. The stock has a market cap of $20.85 billion, a PE ratio of 160.53, a price-to-earnings-growth ratio of 1.20 and a beta of -0.20.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, August 21st. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.28. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Zoom Video Communications had a return on equity of 3.51% and a net margin of 3.17%. Zoom Video Communications’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 EPS. As a group, equities research analysts expect that Zoom Video Communications, Inc. will post 1.77 EPS for the current year.

Insiders Place Their Bets

In other Zoom Video Communications news, Director Jonathan Chadwick sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the director now owns 882 shares in the company, valued at approximately $66,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jonathan Chadwick sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the sale, the director now owns 882 shares in the company, valued at approximately $66,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Steckelberg sold 10,960 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $68.40, for a total value of $749,664.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,132 shares of company stock worth $5,962,272. Company insiders own 11.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ZM shares. Citigroup boosted their target price on Zoom Video Communications from $65.00 to $66.00 and gave the stock a “sell” rating in a research report on Tuesday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, August 22nd. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, August 22nd. Moffett Nathanson upgraded Zoom Video Communications from an “underperform” rating to a “market perform” rating and set a $85.00 target price for the company in a research report on Tuesday, May 23rd. Finally, Sanford C. Bernstein decreased their target price on Zoom Video Communications from $92.00 to $82.00 and set a “market perform” rating for the company in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $82.09.

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.