Verus Capital Partners LLC Raises Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Verus Capital Partners LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 8.1% during the 3rd quarter, Holdings Channel reports. The firm owned 16,171 shares of the company’s stock after acquiring an additional 1,215 shares during the quarter. Verus Capital Partners LLC’s holdings in Zoom Video Communications were worth $1,128,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ZM. AQR Capital Management LLC boosted its holdings 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 valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. boosted its position in Zoom Video Communications by 96.7% in the 2nd 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 grew its stake in Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after purchasing an additional 1,855,679 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Zoom Video Communications by 24.0% during the 2nd 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 boosted its stake in Zoom Video Communications by 20.0% during the 2nd quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock valued at $75,794,000 after acquiring an additional 213,575 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold 372,121 shares of company stock valued at $27,095,467 over the last ninety days. 10.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Bank of America reduced their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird reduced their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, October 4th. Finally, UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.32.

Zoom Video Communications Stock Up 5.1 %

Shares of ZM stock opened at $85.58 on Tuesday. The company has a market capitalization of $26.34 billion, a P/E ratio of 30.67, a P/E/G ratio of 7.02 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $86.23. The firm has a 50-day moving average price of $70.79 and a 200 day moving average price of $64.28.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. Zoom Video Communications’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. As a group, research analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Zoom Video Communications Company 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.