Swiss National Bank Acquires 9,400 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Swiss National Bank grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 743,300 shares of the company’s stock after acquiring an additional 9,400 shares during the quarter. Swiss National Bank owned about 0.24% of Zoom Video Communications worth $51,838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ZM. Innealta Capital LLC bought a new stake in Zoom Video Communications in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Zoom Video Communications in the 2nd quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zoom Video Communications during the 2nd quarter valued at $41,000. Allworth Financial LP raised its position in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Trading Up 1.4 %

Shares of NASDAQ:ZM opened at $78.86 on Thursday. The stock has a fifty day simple moving average of $72.77 and a two-hundred day simple moving average of $65.21. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $87.15. The stock has a market capitalization of $24.27 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 6.74 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. Zoom Video Communications’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. As a group, equities research analysts predict that Zoom Video Communications, Inc. will post 2.77 EPS for the current year.

Insider Buying and Selling

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 of the company’s stock, valued at approximately $6,285,780. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,550 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 in the last three months. Insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley lifted their price objective on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Stifel Nicolaus boosted their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Wedbush started coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Finally, Benchmark raised their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $76.26.

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.