Intech Investment Management LLC Purchases 5,888 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Intech Investment Management LLC boosted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 62.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,295 shares of the company’s stock after buying an additional 5,888 shares during the quarter. Intech Investment Management LLC’s holdings in Zoom Video Communications were worth $905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ZM. KBC Group NV grew its position in shares of Zoom Video Communications by 134.3% in the 4th quarter. KBC Group NV now owns 561,558 shares of the company’s stock worth $40,382,000 after buying an additional 321,921 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares in the last quarter. Ossiam increased its position in Zoom Video Communications by 1,917.4% during the 4th quarter. Ossiam now owns 231,474 shares of the company’s stock valued at $16,645,000 after purchasing an additional 220,000 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Zoom Video Communications by 9.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after purchasing an additional 38,924 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in shares of Zoom Video Communications by 255.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,597 shares of the company’s stock worth $235,000 after purchasing an additional 2,584 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ZM shares. Piper Sandler reduced their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Wells Fargo & Company increased their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley dropped their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $74.68.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total value of $591,649.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,272 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the completion of the transaction, the insider now directly owns 82,792 shares in the company, valued at $4,731,562.80. The disclosure for this sale can be found here. Insiders have sold a total of 123,908 shares of company stock worth $7,373,459 in the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

ZM stock opened at $67.95 on Thursday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77. The stock has a market capitalization of $20.91 billion, a P/E ratio of 25.35, a P/E/G ratio of 5.93 and a beta of -0.05. The business has a fifty day moving average price of $63.14 and a 200-day moving average price of $62.29.

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