Aaron Wealth Advisors LLC Purchases New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Aaron Wealth Advisors LLC acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,943 shares of the company’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in Zoom Video Communications by 96.7% in the second 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 increased its stake in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after acquiring an additional 2,520,987 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after acquiring an additional 1,855,679 shares in the last quarter. Retirement Systems of Alabama purchased a new position in Zoom Video Communications during the 1st quarter valued at about $42,289,000. Finally, Canada Pension Plan Investment Board boosted its stake in Zoom Video Communications by 297.6% during the first quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company’s stock worth $41,815,000 after acquiring an additional 478,769 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday, October 10th. Wedbush began coverage on Zoom Video Communications in a research note on Thursday. They issued an “outperform” rating and a $85.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Piper Sandler cut their price objective 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. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.32.

Insider Activity

In other Zoom Video Communications news, 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 value of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the sale, the insider now owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of 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 sold a total of 157,762 shares of company stock valued at $10,584,251 in the last 90 days. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $70.52 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 5.85 and a beta of -0.04. The stock’s 50-day simple moving average is $66.94 and its two-hundred day simple moving average is $62.62.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

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.