QRG Capital Management Inc. Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

QRG Capital Management Inc. increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 128.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,914 shares of the company’s stock after purchasing an additional 8,952 shares during the quarter. QRG Capital Management Inc.’s holdings in Zoom Video Communications were worth $1,110,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Zoom Video Communications by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after buying an additional 264,217 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Zoom Video Communications by 20.0% during the second quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock worth $75,794,000 after buying an additional 213,575 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Up 1.6 %

Shares of NASDAQ:ZM opened at $81.46 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $81.57. The company has a market cap of $25.07 billion, a PE ratio of 29.20, a P/E/G ratio of 6.87 and a beta of -0.05. The company’s 50-day moving average price is $70.46 and its 200 day moving average price is $64.07.

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

Analyst Upgrades and Downgrades

ZM has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Benchmark boosted their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday, October 10th. Finally, Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $75.32.

Insider Buying and Selling

In related news, CFO Kelly Steckelberg sold 5,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Kelly Steckelberg sold 5,013 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total transaction of $299,276.10. The transaction was disclosed in a legal 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 on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 0.00 % 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 valued at $27,095,467 over the last quarter. Corporate insiders own 10.78% of the company’s stock.

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.