Choreo LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Choreo LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,382 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after acquiring an additional 721,923 shares during the period. Acadian Asset Management LLC increased its position in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the last quarter. FIL Ltd raised its stake in Zoom Video Communications by 1.3% during the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after purchasing an additional 40,456 shares during the period. Contrarius Investment Management Ltd boosted its holdings in shares of Zoom Video Communications by 31.2% in the 4th quarter. Contrarius Investment Management Ltd now owns 1,164,674 shares of the company’s stock valued at $83,752,000 after purchasing an additional 277,257 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Zoom Video Communications by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,073,102 shares of the company’s stock valued at $63,517,000 after purchasing an additional 29,894 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zoom Video Communications

In related news, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Shane Crehan sold 2,493 shares of the company’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 completion of the transaction, the chief accounting officer now directly owns 2,367 shares of the company’s stock, valued at $137,901.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,121.62. The disclosure for this sale can be found here. Insiders sold a total of 128,915 shares of company stock valued at $7,661,812 over the last three months. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Up 0.9 %

Shares of ZM opened at $67.53 on Friday. 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. The business’s 50 day moving average is $62.72 and its two-hundred day moving average is $62.32. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last posted 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 firm had revenue of $1.16 billion for 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%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. On average, equities analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ZM shares. Deutsche Bank Aktiengesellschaft increased their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Rosenblatt Securities restated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Thursday, August 22nd. UBS Group raised Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.68.

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.