BNP Paribas Financial Markets Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

BNP Paribas Financial Markets increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 109.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 776,365 shares of the company's stock after acquiring an additional 405,553 shares during the quarter. BNP Paribas Financial Markets owned about 0.26% of Zoom Video Communications worth $55,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZM. Raymond James & Associates grew its holdings in Zoom Video Communications by 4.0% during the 3rd quarter. Raymond James & Associates now owns 82,788 shares of the company's stock valued at $5,790,000 after buying an additional 3,203 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Zoom Video Communications by 4.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 62,964 shares of the company's stock valued at $4,404,000 after buying an additional 2,573 shares in the last quarter. TD Asset Management Inc grew its holdings in Zoom Video Communications by 17.1% during the 3rd quarter. TD Asset Management Inc now owns 66,239 shares of the company's stock valued at $4,633,000 after buying an additional 9,667 shares in the last quarter. ING Groep NV grew its holdings in Zoom Video Communications by 2,172.4% during the 3rd quarter. ING Groep NV now owns 10,794 shares of the company's stock valued at $755,000 after buying an additional 10,319 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Zoom Video Communications by 23.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,915 shares of the company's stock valued at $1,323,000 after buying an additional 3,573 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZM. JPMorgan Chase & Co. lowered their target price on Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, February 27th. Mizuho lowered their target price on Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 27th. Wedbush reiterated a "neutral" rating and set a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Jefferies Financial Group began coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a "hold" rating and a $70.00 target price for the company. Finally, BNP Paribas downgraded Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 target price for the company. in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $77.56.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the sale, the insider now owns 71,956 shares of the company's stock, valued at $5,036,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the sale, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 2,420 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $69.84, for a total value of $169,012.80. Following the completion of the sale, the chief executive officer now directly owns 85,160 shares of the company's stock, valued at approximately $5,947,574.40. The disclosure for this sale can be found here. Insiders have sold 96,163 shares of company stock worth $6,038,858 over the last quarter. Insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Up 1.4 %

Shares of Zoom Video Communications stock traded up $0.84 during trading on Friday, hitting $61.97. 2,242,518 shares of the stock traded hands, compared to its average volume of 2,828,117. The firm has a market cap of $19.06 billion, a P/E ratio of 30.38 and a beta of -0.05. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The stock's fifty day simple moving average is $63.89 and its 200 day simple moving average is $65.71.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

About Zoom Video Communications

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.