APG Asset Management N.V. Acquires 128,800 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

APG Asset Management N.V. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 144.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 218,127 shares of the company’s stock after buying an additional 128,800 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Zoom Video Communications worth $71,188,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Keybank National Association OH grew its position in shares of Zoom Video Communications by 2.2% in the 2nd quarter. Keybank National Association OH now owns 1,470 shares of the company’s stock worth $569,000 after buying an additional 32 shares during the last quarter. Reilly Financial Advisors LLC boosted its position in shares of Zoom Video Communications by 55.4% during the second quarter. Reilly Financial Advisors LLC now owns 101 shares of the company’s stock valued at $39,000 after purchasing an additional 36 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Zoom Video Communications by 2.2% during the second quarter. J.W. Cole Advisors Inc. now owns 1,680 shares of the company’s stock valued at $650,000 after purchasing an additional 36 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Zoom Video Communications by 2.1% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,812 shares of the company’s stock valued at $701,000 after purchasing an additional 38 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Zoom Video Communications by 3.2% during the first quarter. Brown Advisory Inc. now owns 1,634 shares of the company’s stock valued at $526,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 46.87% of the company’s stock.

In related news, CEO Eric S. Yuan sold 80,529 shares of the stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $375.53, for a total transaction of $30,241,055.37. Following the completion of the transaction, the chief executive officer now directly owns 4,080 shares of the company’s stock, valued at $1,532,162.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Velchamy Sankarlingam sold 2,354 shares of the stock in a transaction that occurred on Tuesday, October 12th. The shares were sold at an average price of $255.27, for a total value of $600,905.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,554 shares of company stock valued at $61,568,029. Corporate insiders own 12.27% of the company’s stock.

NASDAQ:ZM opened at $266.24 on Thursday. The stock has a 50-day simple moving average of $304.21 and a two-hundred day simple moving average of $329.88. Zoom Video Communications, Inc. has a 52-week low of $250.11 and a 52-week high of $588.84. The firm has a market capitalization of $79.11 billion, a PE ratio of 80.44, a P/E/G ratio of 5.49 and a beta of -1.53.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Sunday, August 29th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.27 million. Zoom Video Communications had a return on equity of 29.83% and a net margin of 27.58%. The business’s quarterly revenue was up 54.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, equities analysts anticipate that Zoom Video Communications, Inc. will post 3.3 earnings per share for the current year.

Several equities research analysts recently weighed in on ZM shares. Piper Sandler dropped their price target on Zoom Video Communications from $464.00 to $369.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 31st. KeyCorp reissued a “buy” rating and issued a $398.00 target price on shares of Zoom Video Communications in a report on Tuesday, September 14th. UBS Group dropped their target price on Zoom Video Communications from $345.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 31st. Citigroup dropped their target price on Zoom Video Communications from $380.00 to $304.00 and set a “neutral” rating on the stock in a report on Thursday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Zoom Video Communications from $375.00 to $350.00 and set a “hold” rating on the stock in a report on Tuesday, August 31st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $397.83.

Zoom Video Communications Profile

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

Read More: Hold Rating

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Video Communications, Inc. (NASDAQ:ZM).

Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.