36,400 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Bought by ING Groep NV

ING Groep NV purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 36,400 shares of the company’s stock, valued at approximately $2,539,000.

Other large investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in Zoom Video Communications during the second quarter valued at $33,000. Allworth Financial LP grew its position in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications in the second quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zoom Video Communications in the second quarter worth about $41,000. Finally, Venturi Wealth Management LLC boosted its stake in Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zoom Video Communications

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

Analysts Set New Price Targets

A number of research firms have issued reports on ZM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday, October 10th. Benchmark increased their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Rosenblatt Securities reissued 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 report on Friday, July 26th. Finally, Morgan Stanley lifted their price target on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $76.26.

Zoom Video Communications Trading Down 1.8 %

Shares of ZM opened at $81.14 on Friday. The firm has a fifty day moving average price of $72.07 and a 200-day moving average price of $64.84. The firm has a market capitalization of $24.97 billion, a P/E ratio of 29.08, a P/E/G ratio of 7.12 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The company 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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. Analysts predict that Zoom Video Communications, Inc. will post 2.74 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.