DNB Asset Management AS Grows Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

DNB Asset Management AS grew its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,219 shares of the company’s stock after purchasing an additional 1,903 shares during the quarter. DNB Asset Management AS’s holdings in Zoom Video Communications were worth $2,440,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Evoke Wealth LLC raised its holdings in Zoom Video Communications by 3.5% in the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock worth $364,000 after purchasing an additional 172 shares in the last quarter. Xponance Inc. raised its holdings in Zoom Video Communications by 2.0% in the fourth quarter. Xponance Inc. now owns 9,279 shares of the company’s stock worth $667,000 after purchasing an additional 179 shares in the last quarter. Cantor Fitzgerald L. P. raised its holdings in Zoom Video Communications by 2.7% in the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after purchasing an additional 197 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Finally, Wynn Capital LLC raised its holdings in Zoom Video Communications by 3.3% in the first quarter. Wynn Capital LLC now owns 8,881 shares of the company’s stock worth $581,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ZM. Evercore ISI reduced their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Stifel Nicolaus dropped their target price on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, May 21st. Morgan Stanley dropped their target price on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. Finally, UBS Group raised Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $75.22.

Zoom Video Communications Price Performance

Shares of ZM stock traded up $0.20 during mid-day trading on Tuesday, hitting $55.83. The stock had a trading volume of 3,303,139 shares, compared to its average volume of 3,234,884. Zoom Video Communications, Inc. has a 12-month low of $55.60 and a 12-month high of $75.90. The firm has a market capitalization of $17.27 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 8.97 and a beta of -0.05. The firm’s 50-day moving average is $59.18 and its two-hundred day moving average is $62.59.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. Analysts expect that Zoom Video Communications, Inc. will post 2.43 EPS for the current year.

Insider Activity at Zoom Video Communications

In other news, COO Aparna Bawa sold 10,332 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $56.81, for a total value of $586,960.92. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $112,370.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total transaction of $317,243.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 10,332 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $56.81, for a total transaction of $586,960.92. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $112,370.18. The disclosure for this sale can be found here. Insiders have sold 116,209 shares of company stock valued at $6,785,705 in the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications 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.