Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 28.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,306 shares of the company’s stock after buying an additional 5,343 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zoom Video Communications were worth $1,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications during the 2nd quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zoom Video Communications in the second quarter worth approximately $41,000. Versant Capital Management Inc grew its holdings in Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after purchasing an additional 893 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Zoom Video Communications by 69.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock worth $102,000 after purchasing an additional 692 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Wedbush assumed coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, October 10th. Stifel Nicolaus boosted their target price on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.32.

Zoom Video Communications Price Performance

ZM opened at $72.17 on Tuesday. The stock has a market capitalization of $22.32 billion, a PE ratio of 26.93, a P/E/G ratio of 6.05 and a beta of -0.04. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77. The firm’s fifty day moving average price is $67.28 and its 200 day moving average price is $62.68.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company earned $0.55 earnings per share. Zoom Video Communications’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Zoom Video Communications, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the sale, the chief accounting officer now directly owns 1,463 shares in the company, valued at approximately $97,830.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the sale, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at $97,830.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $58.64, for a total transaction of $293,610.48. The disclosure for this sale can be found here. Insiders have sold 157,762 shares of company stock worth $10,584,251 over the last ninety days. 10.78% of the stock is owned by insiders.

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.