Pacer Advisors Inc. Purchases 2,579,720 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Pacer Advisors Inc. lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 96.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,246,938 shares of the company’s stock after buying an additional 2,579,720 shares during the period. Pacer Advisors Inc. owned approximately 1.70% of Zoom Video Communications worth $310,566,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Evoke Wealth LLC grew its position in Zoom Video Communications by 3.5% during the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock valued at $364,000 after buying an additional 172 shares during the period. Baader Bank Aktiengesellschaft increased its stake in shares of Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after purchasing an additional 189 shares during the last quarter. Cantor Fitzgerald L. P. raised its holdings in shares of Zoom Video Communications by 2.7% in the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after purchasing an additional 197 shares during the period. Excalibur Management Corp lifted its stake in Zoom Video Communications by 5.6% in the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock valued at $257,000 after purchasing an additional 232 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Up 0.9 %

Shares of NASDAQ ZM opened at $67.53 on Friday. The business has a 50-day moving average of $62.72 and a 200-day moving average of $62.32. The firm has a market capitalization of $20.89 billion, a price-to-earnings 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 released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. On average, analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total value of $609,184.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoom Video Communications news, 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 value of $165,479.60. Following the completion of the sale, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at $5,847,447.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total value of $609,184.44. The disclosure for this sale can be found here. Insiders have sold a total of 128,915 shares of company stock valued at $7,661,812 over the last 90 days. 10.78% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America lowered their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of 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 reiterated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Morgan Stanley lowered their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. Finally, Benchmark reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a report on Monday, August 5th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.