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

Easterly Investment Partners LLC increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,679 shares of the company's stock after buying an additional 11,043 shares during the quarter. Easterly Investment Partners LLC's holdings in Zoom Video Communications were worth $7,649,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its position in shares of 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 worth $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Zoom Video Communications by 96.7% during the second 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 last quarter. Acadian Asset Management LLC lifted its position in shares of Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Zoom Video Communications by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company's stock worth $80,827,000 after purchasing an additional 264,217 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of Zoom Video Communications by 20.0% during the second quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company's stock worth $75,794,000 after purchasing an additional 213,575 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Price Performance

NASDAQ:ZM traded up $1.27 during trading hours on Friday, reaching $81.46. The company had a trading volume of 2,838,972 shares, compared to its average volume of 3,221,289. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $81.57. The firm has a market cap of $25.07 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 6.87 and a beta of -0.05. The business's 50 day moving average price is $70.46 and its 200-day moving average price is $64.07.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.55 earnings per share. On average, analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, October 10th. Rosenblatt Securities restated a "buy" rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, October 4th. Robert W. Baird decreased their price objective on Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating for the company in a report on Thursday, August 22nd. Stifel Nicolaus lifted their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the company a "hold" rating in a report on Thursday, October 10th. Finally, Wedbush assumed coverage on Zoom Video Communications in a research note on Thursday, October 17th. They issued an "outperform" rating and a $85.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $75.32.

Insider Transactions at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 5,013 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kelly Steckelberg sold 5,013 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 831 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now owns 1,978 shares of the company's stock, valued at $131,121.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 372,121 shares of company stock valued at $27,095,467 in the last three months. 10.78% of the stock is currently owned by company insiders.

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.