Itau Unibanco Holding S.A. Purchases 1,082 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Itau Unibanco Holding S.A. increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,990 shares of the company’s stock after purchasing an additional 1,082 shares during the period. Itau Unibanco Holding S.A.’s holdings in Zoom Video Communications were worth $414,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Principal Securities Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter valued at approximately $25,000. Quadrant Capital Group LLC increased its stake in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Innealta Capital LLC bought a new stake in shares of Zoom Video Communications during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Zoom Video Communications during the second quarter valued at $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zoom Video Communications in the second quarter worth about $41,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $67.53 on Monday. The firm has a market capitalization of $20.89 billion, a P/E ratio of 25.20, a PEG ratio of 5.83 and a beta of -0.05. The stock has a 50-day simple moving average of $62.72 and a two-hundred day simple moving average of $62.26. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (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 return on equity of 10.77% and a net margin of 19.08%. Zoom Video Communications’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Benchmark reiterated a “buy” rating and set a $83.00 price objective on shares of Zoom Video Communications in a research note on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Bank of America reduced their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Finally, Piper Sandler lowered their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.68.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,272 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the completion of the transaction, the insider now owns 82,792 shares of the company’s stock, valued at approximately $4,731,562.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Aparna Bawa sold 11,060 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total value of $632,079.00. Following the transaction, the chief operating officer now directly owns 12,310 shares of the company’s stock, valued at approximately $703,516.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the completion of the sale, the insider now owns 82,792 shares in the company, valued at $4,731,562.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,915 shares of company stock valued at $7,661,812. Corporate 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.