Lansforsakringar Fondforvaltning AB publ Makes New $7.26 Million Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 88,903 shares of the company's stock, valued at approximately $7,255,000.

Other hedge funds have also recently modified their holdings of the company. Adero Partners LLC increased its position in shares of Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company's stock valued at $450,000 after buying an additional 129 shares during the period. Principal Securities Inc. increased its position in shares of Zoom Video Communications by 26.9% during the fourth quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after buying an additional 166 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Zoom Video Communications by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after buying an additional 168 shares during the period. Siemens Fonds Invest GmbH increased its position in shares of Zoom Video Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock valued at $391,000 after buying an additional 174 shares during the period. Finally, Global X Japan Co. Ltd. increased its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ZM shares. Bank of America boosted their price objective on shares of Zoom Video Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. upped their target price on shares of Zoom Video Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Morgan Stanley upped their target price on shares of Zoom Video Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Mizuho dropped their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Fifteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $87.61.

Zoom Video Communications Stock Performance

Shares of ZM stock traded up $0.38 during mid-day trading on Friday, reaching $80.32. 5,485,271 shares of the company's stock traded hands, compared to its average volume of 2,988,472. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a 50 day moving average price of $76.27 and a two-hundred day moving average price of $79.66. The firm has a market capitalization of $24.52 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The company's revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.35 EPS. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

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.