Versant Capital Management Inc Raises Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Versant Capital Management Inc grew its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1,257.7% in the second quarter, HoldingsChannel reports. The firm owned 964 shares of the company’s stock after buying an additional 893 shares during the quarter. Versant Capital Management Inc’s holdings in Zoom Video Communications were worth $57,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Zoom Video Communications by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Zoom Video Communications by 3.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after acquiring an additional 216,768 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Zoom Video Communications by 4.0% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock valued at $434,785,000 after acquiring an additional 233,321 shares during the last quarter. FIL Ltd lifted its holdings in shares of Zoom Video Communications by 1.3% in the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after acquiring an additional 40,456 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Zoom Video Communications by 54.8% in the 1st quarter. Acadian Asset Management LLC now owns 3,046,718 shares of the company’s stock valued at $199,146,000 after acquiring an additional 1,078,937 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, May 21st. Piper Sandler decreased their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Wells Fargo & Company decreased their price objective on shares of 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, Benchmark reissued a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research note on Monday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.22.

Zoom Video Communications Trading Up 0.4 %

Shares of NASDAQ:ZM traded up $0.20 on Tuesday, hitting $55.83. 3,303,139 shares of the company were exchanged, compared to its average volume of 3,234,884. Zoom Video Communications, Inc. has a 1-year low of $55.60 and a 1-year high of $75.90. The stock’s 50 day moving average price is $59.18 and its 200 day moving average price is $62.59. The firm has a market capitalization of $17.27 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 8.97 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, May 20th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, equities analysts predict that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total transaction of $317,243.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Aparna Bawa sold 10,332 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $56.81, for a total transaction of $586,960.92. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $112,370.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was 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. Insiders sold 116,209 shares of company stock worth $6,785,705 over the last three months. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Company 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.