DekaBank Deutsche Girozentrale Sells 14,259 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

DekaBank Deutsche Girozentrale reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 537,626 shares of the company's stock after selling 14,259 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.17% of Zoom Video Communications worth $37,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Zoom Video Communications by 558.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 74,492 shares of the company's stock worth $5,195,000 after purchasing an additional 63,181 shares during the last quarter. PFG Investments LLC acquired a new position in Zoom Video Communications during the third quarter worth about $228,000. Arkadios Wealth Advisors lifted its holdings in shares of Zoom Video Communications by 9.3% in the third quarter. Arkadios Wealth Advisors now owns 29,211 shares of the company's stock worth $2,037,000 after acquiring an additional 2,497 shares during the last quarter. Forsta AP Fonden boosted its stake in shares of Zoom Video Communications by 11.8% in the 3rd quarter. Forsta AP Fonden now owns 48,500 shares of the company's stock valued at $3,382,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Zoom Video Communications by 93.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,867 shares of the company's stock valued at $2,564,000 after purchasing an additional 17,831 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZM. Piper Sandler cut their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. Wedbush initiated coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an "outperform" rating and a $85.00 price objective on the stock. Benchmark upped their target price on Zoom Video Communications from $83.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their price target on Zoom Video Communications from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Thursday, October 10th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $75.32.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the transaction, the chief executive officer now directly owns 90,354 shares in the company, valued at $5,070,666.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zoom Video Communications news, CEO Eric S. Yuan sold 35,722 shares of the business's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the completion of the sale, the chief executive officer now directly owns 57,371 shares of the company's stock, valued at approximately $4,099,157.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $56.12, for a total value of $135,810.40. Following the completion of the transaction, the chief executive officer now owns 90,354 shares in the company, valued at $5,070,666.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,477 shares of company stock valued at $12,842,978 in the last three months. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Up 2.2 %

NASDAQ ZM traded up $1.65 during trading hours on Tuesday, hitting $75.50. 3,569,370 shares of the company's stock were exchanged, compared to its average volume of 3,254,478. The firm has a market cap of $23.24 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 6.26 and a beta of -0.04. The stock has a 50-day simple moving average of $69.10 and a 200 day simple moving average of $63.13. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $75.96.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its 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. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $0.55 EPS. Zoom Video Communications's quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

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.