US Bancorp DE Has $208,000 Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

US Bancorp DE raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 33.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,983 shares of the company’s stock after purchasing an additional 749 shares during the quarter. US Bancorp DE’s holdings in Zoom Video Communications were worth $208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Zoom Video Communications by 96.7% during the second 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 period. AQR Capital Management LLC boosted its stake in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after acquiring an additional 2,520,987 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after acquiring an additional 1,855,679 shares during the last quarter. International Assets Investment Management LLC raised its stake in Zoom Video Communications by 6,614.6% in the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after acquiring an additional 492,520 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Zoom Video Communications by 297.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company’s stock valued at $41,815,000 after purchasing an additional 478,769 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total value of $299,276.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total transaction of $165,479.60. Following the sale, the chief executive officer now owns 85,514 shares of the company’s stock, valued at $5,847,447.32. This trade represents a 2.75 % 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 ninety days. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of ZM opened at $82.63 on Friday. The business has a 50-day moving average of $71.48 and a 200-day moving average of $64.59. The company has a market capitalization of $25.43 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 7.44 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.55 earnings per share. Zoom Video Communications’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ZM. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Robert W. Baird lowered their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th. Wedbush initiated coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective on the stock. Finally, UBS Group upgraded Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $76.26.

Zoom Video Communications 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.