Edgestream Partners L.P. Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Edgestream Partners L.P. acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,742 shares of the company’s stock, valued at approximately $1,050,000.

A number of other large investors have also recently made changes to their positions in ZM. Vanguard Group Inc. boosted its holdings in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after purchasing an additional 721,923 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after purchasing an additional 1,855,679 shares during the last quarter. FIL Ltd boosted its holdings in Zoom Video Communications by 1.3% in the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after purchasing an additional 40,456 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Zoom Video Communications by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after purchasing an additional 264,217 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Zoom Video Communications by 20.0% in the second quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock valued at $75,794,000 after purchasing an additional 213,575 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZM has been the topic of several recent research reports. Piper Sandler lowered their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Bank of America lowered their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Finally, Benchmark reissued a “buy” rating and set a $83.00 target price on shares of Zoom Video Communications in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.68.

Zoom Video Communications Stock Up 0.9 %

ZM opened at $67.53 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $74.77. The company has a 50-day moving average price of $62.72 and a 200 day moving average price of $62.32. The company has a market cap of $20.89 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 5.83 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,810 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total value of $2,160,463.40. Following the completion of the sale, the chief executive officer now owns 113,684 shares in the company, valued at approximately $6,495,903.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 37,810 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $57.14, for a total transaction of $2,160,463.40. Following the sale, the chief executive officer now owns 113,684 shares of the company’s stock, valued at approximately $6,495,903.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,915 shares of company stock worth $7,661,812. 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.