Victory Capital Management Inc. Buys 213,272 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Victory Capital Management Inc. lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 52.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 619,484 shares of the company's stock after acquiring an additional 213,272 shares during the quarter. Victory Capital Management Inc. owned approximately 0.20% of Zoom Video Communications worth $43,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after buying an additional 180 shares during the period. Axiom Advisory LLC grew its holdings in Zoom Video Communications by 1.6% in the third quarter. Axiom Advisory LLC now owns 11,712 shares of the company's stock worth $817,000 after purchasing an additional 183 shares during the period. Baader Bank Aktiengesellschaft increased its stake in shares of Zoom Video Communications by 0.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company's stock valued at $1,370,000 after purchasing an additional 189 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Zoom Video Communications by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company's stock valued at $794,000 after purchasing an additional 223 shares during the last quarter. Finally, Excalibur Management Corp boosted its position in shares of Zoom Video Communications by 5.6% in the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company's stock worth $257,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Down 1.8 %

NASDAQ ZM traded down $1.49 on Friday, reaching $81.14. The company had a trading volume of 2,234,811 shares, compared to its average volume of 2,708,715. The firm's 50 day moving average price is $72.07 and its 200 day moving average price is $64.84. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $87.15. The stock has a market capitalization of $24.97 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 7.12 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion for 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 company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. On average, research analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 831 shares of the firm'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 transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 372,121 shares of company stock worth $27,095,467 over the last ninety days. Company insiders own 10.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ZM shares. Bank of America dropped their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, August 22nd. Benchmark boosted their price target 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Stifel Nicolaus lifted their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, October 10th. Finally, UBS Group upgraded shares of Zoom Video Communications to a "hold" rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $76.26.

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.