ING Groep NV Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

ING Groep NV bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 36,400 shares of the company's stock, valued at approximately $2,539,000.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake 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 worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC grew its stake in Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after acquiring an additional 2,520,987 shares in the last quarter. Acadian Asset Management LLC increased its holdings 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 worth $290,153,000 after acquiring an additional 1,855,679 shares during the period. International Assets Investment Management LLC lifted its stake in Zoom Video Communications by 6,614.6% in the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company's stock worth $34,868,000 after purchasing an additional 492,520 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Zoom Video Communications by 297.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company's stock valued at $41,815,000 after purchasing an additional 478,769 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 3,614 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 831 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $131,121.62. This trade represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 372,121 shares of company stock worth $27,095,467 in the last 90 days. Insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Down 1.8 %

Shares of NASDAQ:ZM traded down $1.49 on Friday, hitting $81.14. The company had a trading volume of 2,234,811 shares, compared to its average volume of 2,708,715. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $87.15. The firm's 50-day simple moving average is $72.07 and its two-hundred day simple moving average is $64.87. The firm has a market capitalization of $24.97 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 6.99 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The company 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%. The firm's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ZM shares. Bank of America cut their price objective on Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating for the company in a 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 report on Friday, October 4th. Robert W. Baird cut their target price on shares of 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. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Finally, Morgan Stanley upped their price objective on Zoom Video Communications from $68.00 to $86.00 and gave the stock an "equal weight" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $76.26.

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.