Swiss National Bank Grows Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Swiss National Bank boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 743,300 shares of the company's stock after acquiring an additional 9,400 shares during the quarter. Swiss National Bank owned 0.24% of Zoom Video Communications worth $51,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Claro Advisors LLC bought a new position in shares of Zoom Video Communications during the 3rd quarter valued at $276,000. Mizuho Markets Americas LLC bought a new position in shares of Zoom Video Communications during the 3rd quarter valued at $1,850,000. Vectors Research Management LLC lifted its holdings in shares of Zoom Video Communications by 7.1% during the 3rd quarter. Vectors Research Management LLC now owns 3,869 shares of the company's stock valued at $270,000 after buying an additional 256 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Zoom Video Communications by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,108 shares of the company's stock valued at $635,000 after buying an additional 467 shares during the period. Finally, ING Groep NV bought a new position in shares of Zoom Video Communications during the 3rd quarter valued at $2,539,000. 66.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on ZM shares. Benchmark upped their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday, October 10th. Stifel Nicolaus increased their price target on Zoom Video Communications from $65.00 to $70.00 and gave the stock a "hold" rating in a research note on Thursday, October 10th. Morgan Stanley raised their price target on Zoom Video Communications from $68.00 to $86.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average target price of $76.26.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 3,614 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the transaction, the insider now owns 94,000 shares in the company, valued at $6,285,780. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Aparna Bawa sold 880 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares of the company's stock, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of ZM opened at $78.86 on Thursday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $87.15. The company has a 50-day moving average of $72.77 and a 200 day moving average of $65.21. The firm has a market capitalization of $24.27 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 6.64 and a beta of -0.05.

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 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.55 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Zoom Video Communications, Inc. will post 2.77 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.