Handelsbanken Fonder AB Has $11.71 Million Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Handelsbanken Fonder AB reduced its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 167,856 shares of the company’s stock after selling 19,475 shares during the period. Handelsbanken Fonder AB owned 0.05% of Zoom Video Communications worth $11,706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in Zoom Video Communications by 20.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,819 shares of the company’s stock valued at $203,000 after purchasing an additional 477 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Zoom Video Communications in the 4th quarter worth about $1,969,000. Prudential PLC raised its position in Zoom Video Communications by 33.1% in the fourth quarter. Prudential PLC now owns 8,581 shares of the company’s stock valued at $617,000 after purchasing an additional 2,136 shares during the last quarter. Strategic Global Advisors LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $1,667,000. Finally, Symmetry Investments LP bought a new stake in shares of Zoom Video Communications during the fourth quarter worth about $2,188,000. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Down 0.7 %

Shares of NASDAQ ZM opened at $68.16 on Tuesday. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 5.83 and a beta of -0.04. The firm’s 50-day moving average price is $64.64 and its 200-day moving average price is $62.34. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last posted 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. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Analyst Ratings Changes

ZM has been the topic of several analyst reports. Bank of America reduced their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Piper Sandler lowered their price objective on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Friday. Finally, UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.68.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,121.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total value of $603,398.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,777 shares of company stock valued at $4,029,290 in the last 90 days. 10.78% of the stock is currently owned by company insiders.

About Zoom Video Communications

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.