Skandinaviska Enskilda Banken AB publ Buys 362,123 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 717.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,595 shares of the company’s stock after purchasing an additional 362,123 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.13% of Zoom Video Communications worth $24,421,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in shares of Zoom Video Communications in the 4th quarter worth $25,000. Dimensional Fund Advisors LP grew its holdings in shares of Zoom Video Communications by 30.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,033,500 shares of the company’s stock valued at $74,332,000 after buying an additional 242,944 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Zoom Video Communications during the fourth quarter worth about $780,000. Quadrant Capital Group LLC raised its holdings 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 worth $26,000 after acquiring an additional 267 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in Zoom Video Communications by 7.3% in the 4th quarter. D.A. Davidson & CO. now owns 8,581 shares of the company’s stock valued at $617,000 after acquiring an additional 585 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Velchamy Sankarlingam sold 3,272 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total value of $186,994.80. Following the sale, the insider now directly owns 82,792 shares of the company’s stock, valued at $4,731,562.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The disclosure for this sale can be found here. Insiders sold 128,915 shares of company stock valued at $7,661,812 in the last quarter. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Trading Up 0.9 %

Shares of ZM stock opened at $67.53 on Friday. The firm’s 50 day moving average is $62.72 and its 200 day moving average is $62.32. The stock 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. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last posted its 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. 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 return on equity of 10.77% and a net margin of 19.08%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, equities analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Rosenblatt Securities restated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Robert W. Baird reduced their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Finally, 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 report on Thursday, August 22nd. Two research 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. Based on data from MarketBeat.com, Zoom Video Communications presently 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.