Pacer Advisors Inc. buy 2,579,720 shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Pacer Advisors Inc. increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) by 96.7% in the second quarter, Holdings Channel.com reports. The fund owned 5,246,938 shares of the company’s stock after acquiring an additional 2,579,720 shares during the period. Holdings held by Pacer Advisors Inc. in Zoom Video Communications were worth $310,566,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter valued at about $25,000. Dimensional Fund Advisors LP boosted its holdings in Zoom Video Communications by 30.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,033,500 shares of the company’s stock valued at $74,332,000 after acquiring an additional 242,944 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Zoom Video Communications in the 4th quarter valued at $780,000. Quadrant Capital Group LLC boosted its holdings in Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after buying an additional 267 shares in the last quarter. Finally, DA Davidson & CO. lifted its position in shares of Zoom Video Communications by 7.3% in the fourth quarter. DA Davidson & CO. now owns 8,581 shares of the company’s stock worth $617,000 after buying an additional 585 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s shares.

Insiders place their bets

In related news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the transaction, the chief executive officer now owns 90,354 shares in the company, valued at $5,070,666.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,272 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the transaction, the insider now directly owns 82,792 shares of the company’s stock, valued at $4,731,562.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,915 shares of company stock worth $7,661,812. 10.78% of shares are owned by insiders.

0.9% Zoom Video Communications Stock

Shares of NASDAQ ZM opened at $67.53 on Friday. The firm has a market cap of $20.89 billion, a P/E ratio of 25.20, a PEG ratio of 5.83 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77. The company has a 50-day moving average of $62.72 and a 200-day moving average of $62.32.

Zoom Video Communications (NASDAQ:ZM – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company’s revenue rose 2.1% year over year. In the same quarter last year, the company earned $0.55 per share. As a group, equities analysts expect Zoom Video Communications, Inc. to post 2.74 earnings per share for the current fiscal year.

The Wall Street analyst weighs in

Several brokerages have recently issued reports on ZM. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Robert W. Baird decreased their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, 23 August. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $74.68, based on data from MarketBeat.com.

Check out our latest stock analysis on Zoom Video Communications

About Zoom Video Communications

(Free Report)

Zoom Video Communications, Inc provides a unified communications platform in the Americas, Asia Pacific, Europe, Middle East and Africa. The company offers Zoom Meetings that offers HD video, voice, chat and content sharing across mobile devices, desktops, laptops, phones and conference room systems; Zoom Phone, a cloud phone system for businesses; and Zoom Chat allows users to share messages, images, audio files and content across desktop, laptop, tablet and mobile devices.

Further reading

Want to see what other hedge funds ZM owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report).

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