abrdn plc Increases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

abrdn plc grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 14.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,948 shares of the company's stock after purchasing an additional 11,720 shares during the quarter. abrdn plc's holdings in Zoom Video Communications were worth $6,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZM. Pallas Capital Advisors LLC purchased a new position in shares of Zoom Video Communications in the third quarter valued at $1,245,000. Asahi Life Asset Management CO. LTD. purchased a new position in Zoom Video Communications during the 3rd quarter valued at about $395,000. Klein Pavlis & Peasley Financial Inc. bought a new stake in shares of Zoom Video Communications during the third quarter valued at about $827,000. Clear Harbor Asset Management LLC bought a new stake in shares of Zoom Video Communications during the third quarter valued at about $298,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Zoom Video Communications by 558.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 74,492 shares of the company's stock worth $5,195,000 after buying an additional 63,181 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 2,420 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $56.12, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $56.12, for a total transaction of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares of the company's stock, valued at approximately $5,070,666.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Chadwick sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the transaction, the director now owns 1,514 shares in the company, valued at $113,610.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,977 shares of company stock worth $13,780,978 in the last 90 days. Company insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. Wedbush assumed coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an "outperform" rating and a $85.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a "hold" rating in a report on Friday, August 23rd. UBS Group raised Zoom Video Communications to a "hold" rating in a research note on Friday, July 26th. Rosenblatt Securities restated a "buy" rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, October 4th. Finally, 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 report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $75.32.

Zoom Video Communications Stock Up 1.2 %

Shares of NASDAQ ZM traded up $0.86 during midday trading on Friday, reaching $75.60. The company had a trading volume of 1,973,480 shares, compared to its average volume of 2,652,609. The stock has a market cap of $23.27 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 6.44 and a beta of -0.05. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $76.03. The firm's fifty day moving average price is $69.63 and its 200-day moving average price is $63.45.

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 for the quarter, beating 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 quarter in the previous year, the company posted $0.55 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

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.