iA Global Asset Management Inc. Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

iA Global Asset Management Inc. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,060 shares of the company’s stock after purchasing an additional 870 shares during the quarter. iA Global Asset Management Inc.’s holdings in Zoom Video Communications were worth $265,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank grew its position in Zoom Video Communications by 15.6% during the first quarter. Comerica Bank now owns 4,966 shares of the company’s stock worth $325,000 after buying an additional 670 shares during the period. Tidal Investments LLC lifted its holdings in shares of Zoom Video Communications by 89.7% in the first quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock valued at $2,246,000 after purchasing an additional 16,248 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of Zoom Video Communications by 10.8% in the first quarter. Motley Fool Asset Management LLC now owns 9,072 shares of the company’s stock valued at $593,000 after purchasing an additional 885 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Zoom Video Communications by 1.7% in the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock valued at $25,900,000 after purchasing an additional 6,630 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its holdings in shares of Zoom Video Communications by 15.9% in the first quarter. Invenomic Capital Management LP now owns 672,892 shares of the company’s stock valued at $43,987,000 after purchasing an additional 92,171 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

ZM traded down $0.72 during trading hours on Friday, reaching $58.25. 1,403,175 shares of the stock traded hands, compared to its average volume of 3,224,344. The firm’s fifty day simple moving average is $59.42 and its two-hundred day simple moving average is $62.83. The company has a market cap of $18.02 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 9.27 and a beta of -0.05. Zoom Video Communications, Inc. has a fifty-two week low of $55.63 and a fifty-two week high of $75.90.

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

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,589 shares of the stock in a transaction on Sunday, June 9th. The shares were sold at an average price of $62.42, for a total transaction of $224,025.38. Following the transaction, the insider now directly owns 81,287 shares in the company, valued at approximately $5,073,934.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 874 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total transaction of $53,995.72. Following the transaction, the chief operating officer now directly owns 2,814 shares in the company, valued at approximately $173,848.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 3,589 shares of the stock in a transaction on Sunday, June 9th. The shares were sold at an average price of $62.42, for a total transaction of $224,025.38. Following the transaction, the insider now owns 81,287 shares in the company, valued at $5,073,934.54. The disclosure for this sale can be found here. In the last three months, insiders sold 118,629 shares of company stock valued at $6,935,309. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ZM shares. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Robert W. Baird reduced their price objective on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Morgan Stanley reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Evercore ISI reduced their price objective on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, May 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $75.22.

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.