Atomi Financial Group Inc. Boosts Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Atomi Financial Group Inc. lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.0% in the second quarter, HoldingsChannel reports. The firm owned 5,164 shares of the company’s stock after acquiring an additional 339 shares during the quarter. Atomi Financial Group Inc.’s holdings in Zoom Video Communications were worth $306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Zoom Video Communications during the 4th quarter worth approximately $164,224,000. Acadian Asset Management LLC grew its stake in shares of Zoom Video Communications by 54.8% during the first quarter. Acadian Asset Management LLC now owns 3,046,718 shares of the company’s stock worth $199,146,000 after purchasing an additional 1,078,937 shares in the last quarter. Vanguard Group Inc. increased its holdings in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after buying an additional 721,923 shares during the last quarter. Retirement Systems of Alabama purchased a new position in Zoom Video Communications in the first quarter valued at $42,289,000. Finally, Assenagon Asset Management S.A. raised its stake in Zoom Video Communications by 5,535.3% in the first quarter. Assenagon Asset Management S.A. now owns 508,308 shares of the company’s stock valued at $33,228,000 after buying an additional 499,288 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

ZM stock traded down $1.19 during trading on Wednesday, reaching $70.71. 1,019,257 shares of the company were exchanged, compared to its average volume of 3,376,601. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $75.90. The company has a market cap of $21.87 billion, a P/E ratio of 26.83, a PEG ratio of 6.26 and a beta of -0.05. The stock’s 50 day moving average price is $58.82 and its 200 day moving average price is $61.88.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Zoom Video Communications, Inc. will post 2.69 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird dropped their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Bank of America cut their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, Sanford C. Bernstein lowered their price objective on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.10.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,013 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total value of $299,276.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Kelly Steckelberg sold 5,013 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total value of $299,276.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Shane Crehan sold 1,538 shares of Zoom Video Communications stock in a transaction dated Sunday, June 9th. The stock was sold at an average price of $62.42, for a total value of $96,001.96. Following the sale, the chief accounting officer now owns 1,475 shares of the company’s stock, valued at approximately $92,069.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,635 shares of company stock valued at $6,878,813. Insiders own 10.78% of the company’s stock.

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.