Dana Investment Advisors Inc. Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Dana Investment Advisors Inc. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 62.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,226 shares of the company’s stock after buying an additional 35,105 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Zoom Video Communications were worth $5,400,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ZM. Innealta Capital LLC purchased a new stake in shares of Zoom Video Communications during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications in the second quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications in the second quarter valued at about $41,000. Versant Capital Management Inc lifted its holdings in shares of Zoom Video Communications by 1,257.7% during the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after purchasing an additional 893 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Zoom Video Communications by 69.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after buying an additional 692 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,272 shares of the firm’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 completion of the sale, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 value of $145,242.18. Following the transaction, the chief accounting officer now directly owns 2,367 shares in the company, valued at $137,901.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 3,272 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 82,792 shares of the company’s stock, valued at $4,731,562.80. The disclosure for this sale can be found here. Insiders sold 123,908 shares of company stock worth $7,373,459 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZM. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Morgan Stanley decreased their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Bank of America dropped their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.68.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $68.64 on Wednesday. The business has a fifty day moving average price of $64.13 and a 200 day moving average price of $62.31. The company has a market cap of $21.23 billion, a P/E ratio of 25.61, a P/E/G ratio of 5.99 and a beta of -0.05. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.77.

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

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.