Acadian Asset Management LLC Acquires 1,078,937 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Acadian Asset Management LLC grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 54.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,046,718 shares of the company’s stock after acquiring an additional 1,078,937 shares during the period. Acadian Asset Management LLC owned 0.99% of Zoom Video Communications worth $199,146,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $164,224,000. ARK Investment Management LLC raised its position in shares of Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after acquiring an additional 781,663 shares during the last quarter. Vanguard Group Inc. lifted its stake in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after buying an additional 721,923 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of Zoom Video Communications in the 1st quarter valued at approximately $42,289,000. Finally, International Assets Investment Management LLC boosted its position in shares of Zoom Video Communications by 5,787.2% during the fourth quarter. International Assets Investment Management LLC now owns 583,190 shares of the company’s stock worth $41,937,000 after purchasing an additional 573,284 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the topic of several recent research reports. Piper Sandler lowered their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Sanford C. Bernstein cut their price target on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Tuesday, May 21st. Citigroup increased their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Wells Fargo & Company reduced their price target on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, June 21st. Finally, Robert W. Baird dropped their target price on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.22.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 874 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $61.78, for a total value of $53,995.72. Following the completion of the sale, the chief operating officer now directly owns 2,814 shares in the company, valued at $173,848.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Zoom Video Communications news, COO Aparna Bawa sold 874 shares of Zoom Video Communications stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total value of $53,995.72. Following the completion of the sale, the chief operating officer now directly owns 2,814 shares of the company’s stock, valued at $173,848.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total transaction of $317,243.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,629 shares of company stock valued at $6,949,228. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Trading Down 0.5 %

ZM traded down $0.28 during trading on Friday, reaching $58.87. 1,857,396 shares of the company’s stock were exchanged, compared to its average volume of 3,058,897. Zoom Video Communications, Inc. has a one year low of $55.63 and a one year high of $75.90. The firm has a fifty day moving average price of $60.15 and a two-hundred day moving average price of $63.33. The stock has a market capitalization of $18.21 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 9.03 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, May 20th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. Sell-side analysts expect that Zoom Video Communications, Inc. will post 2.43 earnings per share 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.