Tokio Marine Asset Management Co. Ltd. Grows Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Tokio Marine Asset Management Co. Ltd. increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,970 shares of the company’s stock after acquiring an additional 145 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Zoom Video Communications were worth $556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $41,000. Allworth Financial LP lifted its stake in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $81.14 on Friday. The company has a fifty day moving average of $72.07 and a two-hundred day moving average of $64.84. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $87.15. The company has a market capitalization of $24.97 billion, a PE ratio of 29.08, a P/E/G ratio of 7.12 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total value of $299,276.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 831 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,121.62. This represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 372,121 shares of company stock worth $27,095,467. Company insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ZM. Stifel Nicolaus raised their target price on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 10th. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Morgan Stanley increased their target price on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Bank of America reduced their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.26.

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.