First Trust Direct Indexing L.P. Makes New $290,000 Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

First Trust Direct Indexing L.P. acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the third quarter, Holdings Channel reports. The institutional investor acquired 4,155 shares of the company’s stock, valued at approximately $290,000.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC raised its stake in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares during the period. Acadian Asset Management LLC lifted its position in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after buying an additional 492,520 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Zoom Video Communications by 297.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company’s stock valued at $41,815,000 after acquiring an additional 478,769 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $75.54 on Tuesday. The company has a market capitalization of $23.25 billion, a P/E ratio of 27.08, a P/E/G ratio of 6.44 and a beta of -0.05. The company has a 50 day simple moving average of $69.71 and a 200-day simple moving average of $63.56. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $76.03.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. As a group, research analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Insider Buying and Selling at Zoom Video Communications

In related news, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the completion of the transaction, the director now owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Eric S. Yuan sold 35,722 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the sale, the chief executive officer now owns 57,371 shares of the company’s stock, valued at approximately $4,099,157.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the completion of the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,557 shares of company stock valued at $13,645,167 over the last 90 days. 10.78% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZM. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday, October 10th. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, October 4th. Wells Fargo & Company increased their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Finally, Stifel Nicolaus lifted their price target on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.32.

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.