Handelsbanken Fonder AB Acquires 7,573 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Handelsbanken Fonder AB increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 47,927 shares of the company’s stock after buying an additional 7,573 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zoom Video Communications were worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Pearl River Capital LLC increased its position in Zoom Video Communications by 31.6% in the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock worth $2,601,000 after buying an additional 8,928 shares during the last quarter. California Public Employees Retirement System increased its position in Zoom Video Communications by 3.4% in the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock worth $32,231,000 after buying an additional 14,945 shares during the last quarter. CIBC Asset Management Inc increased its position in Zoom Video Communications by 15.9% in the third quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock worth $2,962,000 after buying an additional 5,826 shares during the last quarter. Vanguard Group Inc. increased its position in Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after buying an additional 1,000,005 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC increased its position in Zoom Video Communications by 25.4% in the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock worth $23,590,000 after buying an additional 66,433 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 816 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Aparna Bawa sold 816 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 2,421 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $63.69, for a total value of $154,193.49. Following the completion of the sale, the chief executive officer now directly owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The disclosure for this sale can be found here. Insiders sold a total of 93,224 shares of company stock valued at $5,872,091 over the last 90 days. Insiders own 11.28% of the company’s stock.

Zoom Video Communications Stock Up 1.6 %

Shares of ZM stock opened at $62.00 on Friday. The business has a 50-day moving average price of $64.57 and a two-hundred day moving average price of $65.78. Zoom Video Communications, Inc. has a 12-month low of $58.87 and a 12-month high of $75.90. The firm has a market cap of $19.07 billion, a P/E ratio of 30.39 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, research analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ZM shares. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, April 18th. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 27th. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a research report on Thursday, January 18th. Piper Sandler lifted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Finally, Jefferies Financial Group started coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and an average target price of $77.56.

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.