Great West Life Assurance Co. Can acquired a new stake in Zoom Video Communications, Inc. (NASDAQ: ZM – Get an estimate) in the third quarter, according to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 289,025 shares of the company’s stock, valued at approximately $21,296,000. Great West Life Assurance Co. Can owned about 0.10% of Zoom Video Communications as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. Financial Counselors Inc. boosted its position in Zoom Video Communications by 11.3% in the third quarter. Financial Counselors Inc. now owns 30,167 shares of the company’s stock valued at $2,220,000 after purchasing an additional 3,063 shares during the last quarter. Synergy Financial Group LTD boosted its position in Zoom Video Communications by 4.6% in the third quarter. Synergy Financial Group LTD now owns 13,860 shares of the company’s stock valued at $1,020,000 after buying an additional 610 shares during the last quarter. Avory & Company LLC boosted its position in Zoom Video Communications by 1.8% in the third quarter. Avory & Company LLC now owns 94,430 shares of the company’s stock valued at $6,949,000 after purchasing an additional 1,681 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Zoom Video Communications by 15.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 80,638 shares of the company’s stock valued at $5,934,000 after buying 11,073 shares in the last quarter. Finally, TRU Independence Asset Management 2 LLC boosted its position in Zoom Video Communications by 11.3% in the third quarter. TRU Independence Asset Management 2 LLC now owns 4,005 shares of the company’s stock worth $295,000 after buying an additional 405 shares during the last quarter. Institutional investors own 52.96% of the company’s shares.
A Wall Street analyst weighs in
A number of research analysts have recently commented on the company. Robert W. Baird lowered their price target on Zoom Video Communications from $125.00 to $100.00 in a research report on Friday, November 18th. Citigroup decreased their price target on Zoom Video Communications from $76.00 to $72.00 and set a “sell” rating on the stock in a research report on Wednesday, November 16th. Barclays lowered their price target on Zoom Video Communications from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 23rd. Goldman Sachs Group dropped their price target on Zoom Video Communications from $104.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 23rd. Finally, UBS Group set a $83.00 price objective on Zoom Video Communications in a report on Wednesday, November 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $104.69, according to MarketBeat.
Zoom Video Communications trades down 0.6%
Shares Zoom Video Communications stock opened at $69.49 on Tuesday. The company has a market capitalization of $20.68 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 2.79 and a beta of -0.26. The company has a 50-day moving average of $72.87 and a 200-day moving average of $84.29. Zoom Video Communications, Inc. The 12-month low is $63.55 and the 12-month high is $164.89.
Zoom video communication (NASDAQ: ZM – Get an estimate) last released its quarterly earnings results on Monday, November 21st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Zoom Video Communications had a return on equity of 8.86% and a net margin of 16.07%. The company had revenue of $1.10 billion for the quarter, missing the consensus estimate of $1.10 billion. During the same quarter last year, the company posted earnings per share of $0.72. Zoom Video Communications’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that Zoom Video Communications, Inc. earns 1.28 earnings per share this fiscal year.
Insider buying and selling
In related news, President Gregory Tomb sold 4,801 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $70.98, for a total transaction of $340,774.98. Following the transaction, the president now directly owns 28,611 shares in the company, valued at approximately $2,030,808.78. The deal was disclosed in a filing with the SEC, which is available this hyperlink. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 3,224 shares of the stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $72.87, with a total value of $234,932.88. The transaction was disclosed in a legal document filed with the Securities and Exchange Commission, which can be accessed through SEC website. Also, President Gregory Tomb sold 4,801 shares of the stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $70.98, with a total value of $340,774.98. Following the completion of the sale, the president now owns 28,611 shares in the company, valued at approximately $2,030,808.78. You can find this sale disclosure here. Insiders have sold a total of 21,218 shares of company stock worth $1,490,951 over the last ninety days. 11.24% of shares belong to insiders.
Zoom video communication profile
Zoom Video Communications, Inc. provides a unified communications platform in the Americas, Asia Pacific, Europe, Middle East and Africa. The company offers Zoom Meetings, which offers HD video, voice, chat and content sharing via mobile devices, desktops, laptops, phones and conference room systems; Zoom Phone, the company’s cloud phone system; and Zoom Chat allows users to share messages, images, audio files and content across desktop, laptop, tablet and mobile devices.
read more
Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to obtain Zoom Video Communications, Inc. latest 13F filings and insider trades (NASDAQ: ZM – Get an estimate).
This breaking news alert was created using MarketBeat’s narrative research technology and financial data to provide readers with the fastest and most accurate reporting. MarketBeat editorial staff reviewed this story prior to publication. Please direct any questions or comments about this story to contact@marketbeat.com.
Here’s what you want to hear before you consider Zoom Video Communications.
MarketBeat tracks Wall Street’s top-rated and best-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified five shares that top analysts are quietly whispering to their clients to buy now before the broader market kicks in… and Zoom Video Communications was not on the list.
While Zoom Video Communications currently has a “Hold” rating among analysts, the top-rated analysts believe these five stocks are better buys.
