Handelsbanken Fonder AB Has $3.45 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Handelsbanken Fonder AB grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,927 shares of the company’s stock after buying an additional 7,573 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zoom Video Communications were worth $3,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. increased its position in Zoom Video Communications by 2.0% in the fourth quarter. Xponance Inc. now owns 9,279 shares of the company’s stock worth $667,000 after purchasing an additional 179 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Zoom Video Communications by 3.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,528 shares of the company’s stock worth $457,000 after purchasing an additional 200 shares during the period. Amalgamated Bank increased its position in Zoom Video Communications by 0.8% in the third quarter. Amalgamated Bank now owns 24,850 shares of the company’s stock worth $1,738,000 after purchasing an additional 205 shares during the period. Excalibur Management Corp grew its position in shares of Zoom Video Communications by 6.8% during the 3rd quarter. Excalibur Management Corp now owns 4,083 shares of the company’s stock worth $286,000 after buying an additional 259 shares during the period. Finally, Allworth Financial LP grew its position in shares of Zoom Video Communications by 101.4% during the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after buying an additional 282 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZM has been the subject of several analyst reports. Piper Sandler boosted their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, April 18th. Mizuho decreased their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $62.00 on Friday. The stock has a market capitalization of $19.07 billion, a price-to-earnings ratio of 30.39 and a beta of -0.07. The stock’s 50 day moving average price is $64.57 and its two-hundred day moving average price is $65.78. Zoom Video Communications, Inc. has a 52 week low of $58.87 and a 52 week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. On average, equities research analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 21,968 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $119,036.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 21,968 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $119,036.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Santiago Subotovsky sold 1,100 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $65.38, for a total value of $71,918.00. Following the completion of the transaction, the director now directly owns 154,459 shares in the company, valued at $10,098,529.42. The disclosure for this sale can be found here. Insiders have sold 93,224 shares of company stock valued at $5,872,091 in the last 90 days. 11.28% of the stock is currently owned by insiders.

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.