International Assets Investment Management LLC Acquires 492,520 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

International Assets Investment Management LLC boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6,614.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 499,966 shares of the company’s stock after purchasing an additional 492,520 shares during the quarter. International Assets Investment Management LLC owned about 0.16% of Zoom Video Communications worth $34,868,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Zoom Video Communications in the second quarter valued at about $763,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Zoom Video Communications by 9.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after acquiring an additional 38,924 shares during the period. Andra AP fonden grew its holdings in shares of Zoom Video Communications by 78.0% during the 2nd quarter. Andra AP fonden now owns 238,700 shares of the company’s stock worth $14,129,000 after purchasing an additional 104,600 shares in the last quarter. Swedbank AB bought a new stake in shares of Zoom Video Communications during the first quarter valued at approximately $2,100,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Zoom Video Communications by 47.2% in the first quarter. Commonwealth Equity Services LLC now owns 44,171 shares of the company’s stock valued at $2,887,000 after purchasing an additional 14,170 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Ratings Changes

ZM has been the subject of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, October 4th. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Wedbush initiated coverage on Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price for the company. Finally, Benchmark boosted their price target on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $75.32.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 831 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 35,722 shares of Zoom Video Communications stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $71.45, for a total value of $2,552,336.90. Following the transaction, the chief executive officer now owns 57,371 shares in the company, valued at approximately $4,099,157.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,477 shares of company stock valued at $12,842,978 over the last three months. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 1.7 %

Shares of NASDAQ:ZM opened at $73.85 on Tuesday. The stock has a market capitalization of $22.73 billion, a P/E ratio of 26.47, a P/E/G ratio of 6.26 and a beta of -0.04. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77. The business has a 50-day moving average price of $68.77 and a two-hundred day moving average price of $63.03.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating 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 business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.55 earnings per share. Zoom Video Communications’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current 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.