BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,426 shares of the company’s stock after buying an additional 3,385 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Zoom Video Communications were worth $4,734,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ZM. Vanguard Group Inc. increased its holdings in Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after acquiring an additional 721,923 shares during the period. ARK Investment Management LLC increased its holdings in shares of Zoom Video Communications by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after buying an additional 781,663 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Zoom Video Communications by 3.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock worth $475,469,000 after buying an additional 216,768 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Zoom Video Communications by 4.0% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock worth $434,785,000 after buying an additional 233,321 shares during the last quarter. Finally, FIL Ltd increased its holdings in shares of Zoom Video Communications by 1.3% in the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after buying an additional 40,456 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Price Performance

ZM traded down $0.48 during trading on Wednesday, hitting $56.40. 851,926 shares of the stock traded hands, compared to its average volume of 3,301,206. The firm has a market capitalization of $17.44 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 8.81 and a beta of -0.05. The firm has a 50-day moving average of $60.74 and a 200 day moving average of $64.07. Zoom Video Communications, Inc. has a 12-month low of $55.63 and a 12-month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, May 20th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ZM shares. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Wells Fargo & Company cut their price objective on shares of Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, June 21st. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. Finally, Morgan Stanley cut their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.22.

Insider Transactions at Zoom Video Communications

In other news, CAO Shane Crehan sold 2,493 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $58.26, for a total value of $145,242.18. Following the completion of the sale, the chief accounting officer now directly owns 2,367 shares of the company’s stock, valued at approximately $137,901.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Shane Crehan sold 2,493 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $58.26, for a total value of $145,242.18. Following the completion of the transaction, the chief accounting officer now directly owns 2,367 shares in the company, valued at approximately $137,901.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,733 shares of company stock valued at $4,179,192. Company insiders own 10.78% of the company’s stock.

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.