Victory Capital Management Inc. Boosts Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Victory Capital Management Inc. boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 52.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 619,484 shares of the company’s stock after purchasing an additional 213,272 shares during the quarter. Victory Capital Management Inc.’s holdings in Zoom Video Communications were worth $43,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ZM. Baker Avenue Asset Management LP grew its stake in shares of Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after purchasing an additional 12,890 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $763,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after purchasing an additional 167,618 shares during the period. National Pension Service grew its stake in shares of Zoom Video Communications by 30.1% during the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after purchasing an additional 151,728 shares during the period. Finally, Easterly Investment Partners LLC grew its stake in shares of Zoom Video Communications by 11.2% during the 3rd quarter. Easterly Investment Partners LLC now owns 109,679 shares of the company’s stock worth $7,649,000 after purchasing an additional 11,043 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ZM shares. Wedbush started 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 on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Wells Fargo & Company lifted their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Finally, UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. 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, the company presently has a consensus rating of “Hold” and a consensus target price of $76.26.

Zoom Video Communications Stock Down 1.8 %

NASDAQ ZM opened at $81.14 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $87.15. The business’s fifty day simple moving average is $71.79 and its 200-day simple moving average is $64.72. The firm has a market cap of $24.97 billion, a PE ratio of 29.08, a P/E/G ratio of 7.12 and a beta of -0.05.

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

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total value of $299,276.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 372,121 shares of company stock worth $27,095,467. Company insiders own 10.78% of the company’s stock.

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.