US Bancorp DE Increases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

US Bancorp DE lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 33.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,983 shares of the company’s stock after acquiring an additional 749 shares during the quarter. US Bancorp DE’s holdings in Zoom Video Communications were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ZM. Sei Investments Co. increased its stake in shares of Zoom Video Communications by 42.7% during the 1st quarter. Sei Investments Co. now owns 224,268 shares of the company’s stock worth $14,661,000 after purchasing an additional 67,159 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Zoom Video Communications by 30.6% in the first quarter. Avantax Advisory Services Inc. now owns 6,120 shares of the company’s stock valued at $400,000 after buying an additional 1,433 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Zoom Video Communications by 18.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,761 shares of the company’s stock valued at $8,482,000 after buying an additional 20,367 shares during the period. Blair William & Co. IL lifted its position in shares of Zoom Video Communications by 34.2% during the 1st quarter. Blair William & Co. IL now owns 150,157 shares of the company’s stock valued at $9,816,000 after buying an additional 38,308 shares during the last quarter. Finally, Mizuho Markets Cayman LP grew its stake in shares of Zoom Video Communications by 109.1% during the 1st quarter. Mizuho Markets Cayman LP now owns 35,146 shares of the company’s stock worth $2,407,000 after acquiring an additional 18,336 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 5,013 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total value of $299,276.10. The disclosure for this sale can be found here. Insiders have sold a total of 372,121 shares of company stock worth $27,095,467 in the last 90 days. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Trading Down 2.8 %

Shares of Zoom Video Communications stock opened at $82.63 on Friday. The business’s 50-day moving average price is $71.48 and its 200-day moving average price is $64.59. The firm has a market capitalization of $25.43 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 7.44 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 issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion for 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 business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. As a group, analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZM has been the topic of several recent research reports. Robert W. Baird dropped their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, October 4th. Benchmark increased their target price on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus lifted their price target 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. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.