Ameriprise Financial Inc. Grows Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Ameriprise Financial Inc. boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,120 shares of the company's stock after purchasing an additional 20,000 shares during the quarter. Ameriprise Financial Inc.'s holdings in Zoom Video Communications were worth $10,779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Adero Partners LLC increased its stake in Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock worth $450,000 after acquiring an additional 129 shares during the last quarter. Principal Securities Inc. increased its stake in Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock worth $64,000 after acquiring an additional 166 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after acquiring an additional 168 shares during the last quarter. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its stake in Zoom Video Communications by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company's stock worth $3,303,000 after acquiring an additional 215 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Analyst Ratings Changes

ZM has been the topic of a number of research reports. Benchmark reaffirmed a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research note on Thursday. Needham & Company LLC raised Zoom Video Communications from a "hold" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Zoom Video Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday. Fifteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $87.61.

Zoom Video Communications Price Performance

Shares of ZM stock traded down $0.20 during mid-day trading on Thursday, hitting $82.07. The stock had a trading volume of 6,369,751 shares, compared to its average volume of 2,993,445. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $25.05 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. The firm's 50-day moving average is $75.78 and its two-hundred day moving average is $79.70.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the business earned $1.35 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling

In related news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the transaction, the director now directly owns 169,452 shares of the company's stock, valued at $13,193,532.72. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock worth $12,132,994 in the last three months. 11.51% of the stock is owned by insiders.

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.