Canada Pension Plan Investment Board Buys 4,937 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Canada Pension Plan Investment Board grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 644,606 shares of the company’s stock after purchasing an additional 4,937 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.21% of Zoom Video Communications worth $38,154,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in shares of Zoom Video Communications in the fourth quarter valued at about $25,000. Quadrant Capital Group LLC grew its stake in shares of Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications in the second quarter valued at about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications in the second quarter valued at about $41,000. 66.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Shane Crehan sold 2,493 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $58.26, for a total transaction of $145,242.18. Following the sale, the chief accounting officer now directly owns 2,367 shares of the company’s stock, valued at approximately $137,901.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,915 shares of company stock worth $7,661,812. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $67.53 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77. The firm has a 50 day moving average price of $62.72 and a two-hundred day moving average price of $62.29. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 5.83 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $0.55 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Benchmark restated a “buy” rating and issued a $83.00 price target on shares of Zoom Video Communications in a research note on Monday, August 5th. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Finally, Piper Sandler reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.68.

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.