Victory Capital Management Inc. increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 73.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,044 shares of the company's stock after buying an additional 76,054 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Zoom Video Communications worth $13,176,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its position in Zoom Video Communications by 12.3% in the third quarter. Baillie Gifford & Co. now owns 8,466,914 shares of the company's stock worth $623,080,000 after buying an additional 929,812 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Zoom Video Communications by 61.0% during the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company's stock worth $756,052,000 after purchasing an additional 2,444,294 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Zoom Video Communications by 20.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,341,298 shares of the company's stock worth $466,656,000 after purchasing an additional 1,071,273 shares during the last quarter. State Street Corp lifted its position in shares of Zoom Video Communications by 3.7% during the second quarter. State Street Corp now owns 4,947,998 shares of the company's stock worth $534,235,000 after purchasing an additional 178,842 shares during the last quarter. Finally, Public Investment Fund bought a new stake in shares of Zoom Video Communications during the second quarter worth $507,208,000. 52.96% of the stock is currently owned by institutional investors.
Get Zoom Video Communications alerts:Zoom Video Communications Price Performance
ZM opened at $71.58 on Friday. The business has a 50 day simple moving average of $70.79 and a 200-day simple moving average of $82.11. The stock has a market capitalization of $21.31 billion, a P/E ratio of 31.39, a P/E/G ratio of 3.53 and a beta of -0.26. Zoom Video Communications, Inc. has a 12 month low of $63.55 and a 12 month high of $156.05.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.05). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a return on equity of 8.86% and a net margin of 16.07%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. Research analysts anticipate that Zoom Video Communications, Inc. will post 1 EPS for the current year.Insider Activity
In other news, insider Velchamy Sankarlingam sold 2,993 shares of the company's stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $69.54, for a total value of $208,133.22. Following the transaction, the insider now directly owns 24,395 shares of the company's stock, valued at $1,696,428.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kelly Steckelberg sold 3,224 shares of the firm's stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $70.53, for a total transaction of $227,388.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 2,993 shares of the firm's stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $69.54, for a total transaction of $208,133.22. Following the completion of the sale, the insider now directly owns 24,395 shares of the company's stock, valued at approximately $1,696,428.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,218 shares of company stock worth $1,490,951. Insiders own 11.24% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on ZM shares. Barclays cut their price target on Zoom Video Communications from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 23rd. Wedbush started coverage on Zoom Video Communications in a research note on Wednesday, December 14th. They set a "neutral" rating and a $80.00 price target on the stock. Piper Sandler cut their price target on Zoom Video Communications from $77.00 to $75.00 in a research note on Tuesday, January 17th. Deutsche Bank Aktiengesellschaft cut their price target on Zoom Video Communications from $95.00 to $75.00 and set a "hold" rating on the stock in a research note on Tuesday, November 22nd. Finally, Stifel Nicolaus cut their target price on Zoom Video Communications from $90.00 to $80.00 in a research note on Wednesday, November 9th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $103.76.
Zoom Video Communications Profile
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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.
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