Banque Cantonale Vaudoise Raises Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Banque Cantonale Vaudoise grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,253 shares of the company’s stock after acquiring an additional 956 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Zoom Video Communications were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Quest Partners LLC increased its holdings in shares of Zoom Video Communications by 28.2% in the third quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock worth $643,000 after buying an additional 2,029 shares during the period. Swiss National Bank grew its position in Zoom Video Communications by 1.3% during the 3rd quarter. Swiss National Bank now owns 743,300 shares of the company’s stock worth $51,838,000 after acquiring an additional 9,400 shares during the last quarter. Claro Advisors LLC purchased a new position in Zoom Video Communications in the 3rd quarter worth approximately $276,000. Mizuho Markets Americas LLC bought a new stake in Zoom Video Communications in the third quarter valued at approximately $1,850,000. Finally, Vectors Research Management LLC boosted its stake in shares of Zoom Video Communications by 7.1% during the third quarter. Vectors Research Management LLC now owns 3,869 shares of the company’s stock valued at $270,000 after purchasing an additional 256 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at $97,830.81. This trade represents a 51.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ZM shares. Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday. Robert W. Baird reduced their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Benchmark increased their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $76.61.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $81.20 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $87.15. The firm has a 50-day moving average of $73.06 and a 200 day moving average of $65.32. The stock has a market cap of $24.99 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 6.64 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts expect that Zoom Video Communications, Inc. will post 2.77 earnings per share for the current fiscal year.

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.