Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,595 shares of the company’s stock after acquiring an additional 2,800 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Zoom Video Communications were worth $1,297,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the period. International Assets Investment Management LLC lifted its holdings in Zoom Video Communications by 6,614.6% in the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after acquiring an additional 492,520 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Zoom Video Communications by 297.6% in the first quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company’s stock valued at $41,815,000 after acquiring an additional 478,769 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity

In related news, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This trade represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,121 shares of company stock worth $27,095,467. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $82.63 on Friday. The business has a 50-day simple moving average of $71.48 and a 200-day simple moving average of $64.59. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $87.15. The company has a market cap of $25.43 billion, a PE ratio of 29.62, a P/E/G ratio of 7.44 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. On average, sell-side analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ZM. Stifel Nicolaus lifted their target price on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley upped their target price on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wedbush started coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.26.

About Zoom Video Communications

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.