Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 33.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,293 shares of the company’s stock after acquiring an additional 2,559 shares during the period. Van ECK Associates Corp’s holdings in Zoom Video Communications were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Public Investment Fund acquired a new stake in Zoom Video Communications during the second quarter valued at approximately $507,208,000. Renaissance Technologies LLC lifted its stake in Zoom Video Communications by 61.0% during the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after purchasing an additional 2,444,294 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Zoom Video Communications by 20.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,341,298 shares of the company’s stock valued at $466,656,000 after acquiring an additional 1,071,273 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Zoom Video Communications by 12.3% in the 3rd quarter. Baillie Gifford & Co. now owns 8,466,914 shares of the company’s stock valued at $623,080,000 after acquiring an additional 929,812 shares in the last quarter. Finally, Capital Wealth Alliance LLC purchased a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $4,230,000. 52.96% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $69.49 on Tuesday. The company has a 50-day moving average of $72.87 and a 200-day moving average of $84.29. The company has a market capitalization of $20.68 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 2.79 and a beta of -0.26. Zoom Video Communications, Inc. has a 52 week low of $63.55 and a 52 week high of $164.89.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings data on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Zoom Video Communications had a return on equity of 8.86% and a net margin of 16.07%. Zoom Video Communications’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Zoom Video Communications from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $295.00 to $85.00 in a research report on Friday, October 7th. Morgan Stanley reduced their price target on shares of Zoom Video Communications from $85.00 to $78.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 14th. Mizuho reduced their price target on shares of Zoom Video Communications from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 22nd. Evercore ISI dropped their price objective on shares of Zoom Video Communications from $95.00 to $85.00 in a research note on Tuesday, November 22nd. Finally, Credit Suisse Group started coverage on shares of Zoom Video Communications in a research note on Friday, September 23rd. They issued a “neutral” rating and a $83.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $104.69.

Insider Transactions at Zoom Video Communications

In related news, President Gregory Tomb sold 3,752 shares of the stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $71.85, for a total transaction of $269,581.20. Following the completion of the sale, the president now owns 27,520 shares in the company, valued at approximately $1,977,312. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Gregory Tomb sold 3,752 shares of the stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $71.85, for a total transaction of $269,581.20. Following the completion of the sale, the president now owns 27,520 shares in the company, valued at approximately $1,977,312. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $70.53, for a total transaction of $227,388.72. The disclosure for this sale can be found here. In the last three months, insiders sold 21,218 shares of company stock valued at $1,490,951. Company insiders own 11.24% of the company’s stock.

About Zoom Video Communications

(Get Rating)

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.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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