ING Groep NV Invests $2.54 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

ING Groep NV bought a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,400 shares of the company’s stock, valued at approximately $2,539,000.

Several other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications during the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications during the 2nd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications during the 2nd quarter valued at approximately $41,000. Allworth Financial LP raised its holdings in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after buying an additional 274 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ZM shares. UBS Group raised Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. 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. Deutsche Bank Aktiengesellschaft upped their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Wedbush assumed coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Finally, Robert W. Baird dropped their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $76.26.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $81.14 on Friday. The stock has a market capitalization of $24.97 billion, a P/E ratio of 29.08, a P/E/G ratio of 7.12 and a beta of -0.05. The company’s fifty day moving average price is $72.07 and its 200 day moving average price is $64.84. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. Sell-side analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Insider Activity

In related news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Aparna Bawa sold 831 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their position. 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 quarter. 10.78% of the stock is currently owned by corporate insiders.

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.