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

Acadian Asset Management LLC grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 60.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,902,397 shares of the company’s stock after buying an additional 1,855,679 shares during the quarter. Zoom Video Communications accounts for approximately 0.9% of Acadian Asset Management LLC’s portfolio, making the stock its 17th biggest position. Acadian Asset Management LLC owned approximately 1.59% of Zoom Video Communications worth $290,153,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ZM. Principal Securities Inc. purchased a new stake in Zoom Video Communications during the 4th quarter worth about $25,000. Quadrant Capital Group LLC increased its holdings in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after acquiring an additional 267 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth about $32,000. Innealta Capital LLC purchased a new stake in Zoom Video Communications during the second quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications in the second quarter valued at approximately $36,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,415 shares of company stock worth $7,189,817. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 0.1 %

Shares of ZM stock opened at $67.18 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.82. The business has a fifty day simple moving average of $60.85 and a 200-day simple moving average of $62.25. The stock has a market cap of $20.68 billion, a P/E ratio of 25.07, a P/E/G ratio of 5.98 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.69 earnings per share for the current year.

Wall Street Analyst Weigh In

ZM has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Evercore ISI decreased their target price on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Stifel Nicolaus decreased their price objective on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a report on Tuesday, May 21st. Finally, Bank of America cut their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.10.

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.