Recently, several institutional investors have increased their holdings in Zoom Video Communications. Pacer Advisors Inc. boosted its stake by 96.7%, acquiring over 2.5 million more shares. AQR Capital Management LLC raised its position by 78.5%, adding about 2.5 million shares. Acadian Asset Management LLC increased its stake by 60.9%. Additionally, Retirement Systems of Alabama began investing in the company, and Canada Pension Plan Investment Board raised its shares by 297.6%. Currently, 66.54% of the company’s stock is owned by institutional investors.
Zoom Video Communications Price Performance
Zoom Video Communications stock opened at $70.52 recently. It has a 50-day moving average of $66.94 and a 200-day moving average of $62.63. The stock’s 12-month low is $55.06, while the high is $74.77. The company’s market cap is $21.81 billion with a PE ratio of 26.31.
Zoom Video Communications (NASDAQ:ZM – Get Free Report) reported earnings on August 21st, showing an EPS of $1.39, surpassing estimates of $1.21. Revenue reached $1.16 billion, slightly above the expected $1.15 billion, marking a 2.1% increase from last year.
Analysts Set New Price Targets
Analysts have updated their targets for Zoom stock. Wells Fargo raised its target from $55.00 to $60.00 with an “underweight” rating. Deutsche Bank increased its target to $75.00 with a “hold” rating. Wedbush rated the stock as “outperform” with a target of $85.00, while Royal Bank of Canada set a target of $95.00. Piper Sandler lowered its estimate to $68.00. Overall, the stock has an average rating of “Hold” with a consensus target of $75.32.
Insider Trading
CEO Eric S. Yuan sold 2,420 shares at an average price of $56.12. He now owns 90,354 shares worth around $5.07 million. CFO Shane Crehan sold 1,550 shares at $66.87. Insiders have sold 157,762 shares in total over the last three months, with insiders holding 10.78% of the stock.
Company Overview
Zoom Video Communications, Inc offers a unified communications platform that includes HD video meetings, enterprise cloud phone services, and chat features across multiple devices.
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