Assenagon Asset Management S.A. Increases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Assenagon Asset Management S.A. lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 551,677 shares of the company’s stock after acquiring an additional 9,586 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Zoom Video Communications were worth $38,474,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in Zoom Video Communications in the second quarter valued at about $763,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Zoom Video Communications by 9.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock valued at $30,171,000 after purchasing an additional 38,924 shares during the last quarter. Andra AP fonden grew its holdings in Zoom Video Communications by 78.0% during the second quarter. Andra AP fonden now owns 238,700 shares of the company’s stock valued at $14,129,000 after purchasing an additional 104,600 shares during the period. Swedbank AB bought a new position in Zoom Video Communications during the first quarter valued at $2,100,000. Finally, Commonwealth Equity Services LLC increased its position in Zoom Video Communications by 47.2% in the first quarter. Commonwealth Equity Services LLC now owns 44,171 shares of the company’s stock worth $2,887,000 after buying an additional 14,170 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 value of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Janet Napolitano sold 4,477 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $69.39, for a total transaction of $310,659.03. Following the transaction, the director now directly owns 2,984 shares in the company, valued at approximately $207,059.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,477 shares of company stock worth $12,842,978 over the last 90 days. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM opened at $72.66 on Friday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77. The company has a market capitalization of $22.36 billion, a P/E ratio of 26.04, a P/E/G ratio of 6.22 and a beta of -0.04. The firm’s 50 day simple moving average is $67.90 and its 200 day simple moving average is $62.81.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.55 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ZM shares. Piper Sandler dropped their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Robert W. Baird reduced their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price objective 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. Two 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, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $75.32.

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.