DekaBank Deutsche Girozentrale Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

DekaBank Deutsche Girozentrale raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 19.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,072 shares of the company’s stock after purchasing an additional 7,482 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Zoom Video Communications were worth $3,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ZM. Ronald Blue Trust Inc. acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $27,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $26,000. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after buying an additional 114 shares during the period. Wagner Wealth Management LLC acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $32,000. Finally, Neo Ivy Capital Management lifted its holdings in shares of Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the period. 52.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZM. Piper Sandler reduced their price objective on Zoom Video Communications from $77.00 to $75.00 in a report on Tuesday, January 17th. The Goldman Sachs Group reduced their price objective on Zoom Video Communications from $104.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, November 23rd. UBS Group set a $83.00 price objective on Zoom Video Communications in a report on Wednesday, November 23rd. JPMorgan Chase & Co. cut Zoom Video Communications from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $295.00 to $85.00 in a report on Friday, October 7th. Finally, Morgan Stanley reduced their price objective on Zoom Video Communications from $85.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, December 14th. 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 stock. According to MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $104.62.

Insider Buying and Selling

In related news, President Gregory Tomb sold 4,801 shares of the business’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $70.98, for a total value of $340,774.98. Following the transaction, the president now owns 28,611 shares in the company, valued at $2,030,808.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zoom Video Communications 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 sale, the president now owns 28,611 shares in the company, valued at $2,030,808.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly Steckelberg sold 3,224 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $72.87, for a total value of $234,932.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,218 shares of company stock worth $1,490,951. 11.24% of the stock is currently owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of ZM opened at $69.50 on Monday. The stock’s 50-day moving average is $71.93 and its two-hundred day moving average is $82.98. The stock has a market cap of $20.69 billion, a PE ratio of 30.48, a P/E/G ratio of 3.57 and a beta of -0.26. Zoom Video Communications, Inc. has a 12 month low of $63.55 and a 12 month high of $156.91.

Zoom Video Communications (NASDAQ:ZMGet Rating) last issued 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a return on equity of 8.86% and a net margin of 16.07%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, research analysts anticipate that Zoom Video Communications, Inc. will post 1 earnings per share for the current year.

Zoom Video Communications Company Profile

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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.

Further Reading

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

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