Forsta AP Fonden Buys 6,500 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Forsta AP Fonden boosted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 15.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,700 shares of the company’s stock after buying an additional 6,500 shares during the period. Forsta AP Fonden’s holdings in Zoom Video Communications were worth $3,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZM. Norges Bank bought a new stake in shares of Zoom Video Communications during the 4th quarter valued at about $164,224,000. Vanguard Group Inc. boosted its position in shares of Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after purchasing an additional 1,000,005 shares during the period. ARK Investment Management LLC boosted its position in shares of Zoom Video Communications by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after purchasing an additional 781,663 shares during the period. Retirement Systems of Alabama bought a new position in shares of Zoom Video Communications in the first quarter worth approximately $42,289,000. Finally, International Assets Investment Management LLC boosted its position in shares of Zoom Video Communications by 5,787.2% in the fourth quarter. International Assets Investment Management LLC now owns 583,190 shares of the company’s stock worth $41,937,000 after purchasing an additional 573,284 shares during the period. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 0.1 %

Shares of Zoom Video Communications stock traded down $0.03 on Monday, reaching $57.55. 125,951 shares of the stock were exchanged, compared to its average volume of 3,303,550. Zoom Video Communications, Inc. has a twelve month low of $55.63 and a twelve month high of $75.90. The firm has a market capitalization of $17.80 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 8.83 and a beta of -0.05. The business has a 50 day moving average price of $60.42 and a two-hundred day moving average price of $63.71.

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

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,589 shares of the company’s stock in a transaction dated Sunday, June 9th. The shares were sold at an average price of $62.42, for a total value of $224,025.38. Following the completion of the transaction, the insider now owns 81,287 shares in the company, valued at $5,073,934.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Eric S. Yuan sold 37,810 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total transaction of $2,160,463.40. Following the completion of the sale, the chief executive officer now owns 113,684 shares of the company’s stock, valued at $6,495,903.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,589 shares of the company’s stock in a transaction on Sunday, June 9th. The stock was sold at an average price of $62.42, for a total transaction of $224,025.38. Following the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $5,073,934.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,272 shares of company stock worth $7,981,517. Insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their price target on Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Evercore ISI lowered their price target on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, May 21st. Wells Fargo & Company reduced their price target on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, June 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, May 21st. Finally, Citigroup increased their price target on Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $75.22.

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.