Federated Hermes Inc. Has $32.49 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Federated Hermes Inc. grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 548,969 shares of the company's stock after purchasing an additional 39,748 shares during the quarter. Federated Hermes Inc. owned about 0.18% of Zoom Video Communications worth $32,493,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ZM. Evoke Wealth LLC lifted its stake in shares of Zoom Video Communications by 3.5% in the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company's stock valued at $364,000 after buying an additional 172 shares during the period. Baader Bank Aktiengesellschaft lifted its position in shares of Zoom Video Communications by 0.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company's stock worth $1,370,000 after acquiring an additional 189 shares during the period. Cantor Fitzgerald L. P. grew its holdings in shares of Zoom Video Communications by 2.7% during the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company's stock worth $544,000 after purchasing an additional 197 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company's stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Zoom Video Communications by 2.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company's stock worth $669,000 after purchasing an additional 273 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Trading Up 1.6 %

Shares of ZM stock traded up $1.04 during trading hours on Friday, hitting $67.59. 2,061,795 shares of the company were exchanged, compared to its average volume of 4,687,084. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.77. The business has a 50 day moving average of $61.69 and a two-hundred day moving average of $62.32. The company has a market capitalization of $20.80 billion, a PE ratio of 25.22, a PEG ratio of 5.84 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, topping analysts' consensus estimates of $1.21 by $0.18. The firm 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%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, research analysts forecast that Zoom Video Communications, Inc. will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Benchmark restated a "buy" rating and issued a $83.00 target price on shares of Zoom Video Communications in a research note on Monday, August 5th. UBS Group raised shares of Zoom Video Communications to a "hold" rating in a report on Friday, July 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Finally, Piper Sandler reduced their target price on Zoom Video Communications from $72.00 to $68.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $75.10.

Insider Activity

In other news, CEO Eric S. Yuan sold 37,810 shares of the company's stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total value of $2,160,463.40. Following the sale, the chief executive officer now directly owns 113,684 shares of the company's stock, valued at approximately $6,495,903.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the firm's stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total transaction of $288,353.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 37,810 shares of the company's stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total value of $2,160,463.40. Following the completion of the transaction, the chief executive officer now directly owns 113,684 shares in the company, valued at approximately $6,495,903.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,014 shares of company stock valued at $7,070,162. 10.78% of the stock is owned by insiders.

About Zoom Video Communications

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.