Elo Mutual Pension Insurance Co Grows Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Elo Mutual Pension Insurance Co lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,745 shares of the company’s stock after buying an additional 348 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Zoom Video Communications were worth $1,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZM. Principal Securities Inc. purchased a new position in Zoom Video Communications in the fourth quarter valued at $25,000. Quadrant Capital Group LLC increased its stake in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Zoom Video Communications in the 4th quarter worth about $32,000. Innealta Capital LLC purchased a new position in Zoom Video Communications during the second quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the second quarter valued at approximately $36,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $67.53 on Friday. The stock’s fifty day moving average is $62.72 and its two-hundred day moving average is $62.32. The firm has a market capitalization of $20.89 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 5.83 and a beta of -0.05. 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 data 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. 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 in the prior year, the firm posted $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 forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ZM. Benchmark reaffirmed a “buy” rating and set a $83.00 target price 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 research report on Thursday, August 22nd. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Piper Sandler reduced their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Robert W. Baird lowered their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.68.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 3,272 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the transaction, the insider now owns 82,792 shares of the company’s stock, valued at approximately $4,731,562.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total value of $288,353.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,272 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the transaction, 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. In the last 90 days, insiders have sold 128,915 shares of company stock valued at $7,661,812. 10.78% of the stock is currently owned by company insiders.

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.