Baker Avenue Asset Management LP Acquires 12,890 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Baker Avenue Asset Management LP lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 82.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,593 shares of the company's stock after acquiring an additional 12,890 shares during the quarter. Baker Avenue Asset Management LP's holdings in Zoom Video Communications were worth $1,994,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Zoom Video Communications during the 2nd quarter worth $763,000. Robeco Institutional Asset Management B.V. grew its stake in Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company's stock worth $87,713,000 after purchasing an additional 167,618 shares in the last quarter. National Pension Service increased its holdings in Zoom Video Communications by 30.1% in the third quarter. National Pension Service now owns 655,227 shares of the company's stock valued at $45,696,000 after buying an additional 151,728 shares during the last quarter. Easterly Investment Partners LLC raised its stake in Zoom Video Communications by 11.2% during the third quarter. Easterly Investment Partners LLC now owns 109,679 shares of the company's stock valued at $7,649,000 after buying an additional 11,043 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. bought a new position in Zoom Video Communications during the 3rd quarter worth approximately $827,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares of the company's stock, valued at approximately $97,830.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Eric S. Yuan sold 178,571 shares of the firm's stock in a transaction 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 filing with the SEC, which is accessible through this link. Also, CAO Shane Crehan sold 1,550 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares of the company's stock, valued at $97,830.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,121 shares of company stock valued at $27,095,467. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Up 5.1 %

NASDAQ:ZM traded up $4.12 during trading hours on Monday, hitting $85.58. 5,444,752 shares of the stock traded hands, compared to its average volume of 3,231,482. The firm has a 50 day moving average price of $70.46 and a 200 day moving average price of $64.10. The firm has a market cap of $26.34 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 7.02 and a beta of -0.05. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $86.23.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business earned $0.55 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

ZM has been the topic of several research analyst reports. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Stifel Nicolaus boosted their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an "underweight" rating in a research note on Thursday, August 22nd. Bank of America decreased their price target on Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, August 22nd. Finally, Wedbush initiated coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an "outperform" rating and a $85.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and a consensus target price of $75.32.

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.