abrdn plc Purchases 11,720 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

abrdn plc grew its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 14.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,948 shares of the company’s stock after buying an additional 11,720 shares during the period. abrdn plc’s holdings in Zoom Video Communications were worth $6,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC raised its position in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after buying an additional 2,579,720 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Zoom Video Communications by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after buying an additional 264,217 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Zoom Video Communications by 20.0% in the second quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock worth $75,794,000 after purchasing an additional 213,575 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wedbush assumed coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price target on the stock. Robert W. Baird reduced their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Bank of America reduced their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. 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. Finally, UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Two 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 stock. According to MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $75.32.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the transaction, the chief executive officer now directly owns 90,354 shares in the company, valued at $5,070,666.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $56.64, for a total transaction of $283,596.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. 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 a total of 200,977 shares of company stock worth $13,780,978 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 1.2 %

NASDAQ ZM opened at $75.60 on Friday. The company’s 50-day moving average price is $69.63 and its 200-day moving average price is $63.42. The stock has a market cap of $23.27 billion, a PE ratio of 27.10, a PEG ratio of 6.44 and a beta of -0.05. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $76.03.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business earned $0.55 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current 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.