Daiwa Securities Group Inc. Buys 1,669 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Daiwa Securities Group Inc. raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,982 shares of the company’s stock after purchasing an additional 1,669 shares during the period. Daiwa Securities Group Inc.’s holdings in Zoom Video Communications were worth $1,603,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. raised its position in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after purchasing an additional 145 shares during the last quarter. Allworth Financial LP raised its position in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Axiom Advisory LLC raised its position in Zoom Video Communications by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after purchasing an additional 183 shares during the last quarter. Baader Bank Aktiengesellschaft raised its position in Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after purchasing an additional 189 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Zoom Video Communications by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after purchasing an additional 223 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the transaction, the director now owns 1,514 shares in the company, valued at $113,610.56. The trade was a 89.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,108 shares of company stock worth $26,796,191. Insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of several analyst reports. Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Stifel Nicolaus raised their target price on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. Mizuho lifted their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday. Benchmark lifted their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Barclays lifted their price objective on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Stock Performance

ZM stock opened at $85.36 on Friday. The company has a market capitalization of $26.27 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 7.12 and a beta of -0.05. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The business has a 50-day simple moving average of $74.92 and a two-hundred day simple moving average of $66.16.

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.