BI Asset Management Fondsmaeglerselskab A S Purchases 3,385 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.9% during the first quarter, HoldingsChannel reports. The fund owned 72,426 shares of the company’s stock after acquiring an additional 3,385 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Zoom Video Communications were worth $4,734,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Stifel Financial Corp boosted its stake in shares of Zoom Video Communications by 5.4% during the third quarter. Stifel Financial Corp now owns 26,080 shares of the company’s stock valued at $1,824,000 after purchasing an additional 1,340 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in shares of Zoom Video Communications during the third quarter valued at $294,000. Diversified Trust Co boosted its stake in shares of Zoom Video Communications by 45.8% during the third quarter. Diversified Trust Co now owns 11,687 shares of the company’s stock valued at $817,000 after purchasing an additional 3,669 shares during the period. Savoie Capital LLC purchased a new stake in Zoom Video Communications in the third quarter worth about $3,623,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Zoom Video Communications by 2.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 166,640 shares of the company’s stock worth $11,654,000 after acquiring an additional 4,514 shares during the period. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 0.8 %

Shares of ZM traded down $0.48 during mid-day trading on Wednesday, hitting $56.40. 851,926 shares of the company traded hands, compared to its average volume of 3,301,206. Zoom Video Communications, Inc. has a 1-year low of $55.63 and a 1-year high of $75.90. The company has a market capitalization of $17.44 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 8.81 and a beta of -0.05. The business has a 50 day moving average of $60.74 and a 200 day moving average of $64.07.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, research analysts expect that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 3,589 shares of the stock in a transaction that occurred on Sunday, June 9th. The shares were sold at an average price of $62.42, for a total value of $224,025.38. Following the transaction, the insider now owns 81,287 shares in the company, valued at approximately $5,073,934.54. The sale was disclosed in a filing with the SEC, which is available through this link. In other Zoom Video Communications news, COO Aparna Bawa sold 21,968 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $119,036.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,589 shares of the company’s stock in a transaction that occurred on Sunday, June 9th. The stock was sold at an average price of $62.42, for a total value of $224,025.38. Following the completion of the sale, the insider now owns 81,287 shares in the company, valued at approximately $5,073,934.54. The disclosure for this sale can be found here. Insiders have sold a total of 68,733 shares of company stock worth $4,179,192 over the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of research reports. Rosenblatt Securities upped their price objective on shares of Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Robert W. Baird lowered their price objective on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Citigroup upped their price objective on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.22.

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.