Hara Capital LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Hara Capital LLC acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the third quarter, HoldingsChannel reports. The institutional investor acquired 6,885 shares of the company’s stock, valued at approximately $480,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the period. Pacer Advisors Inc. raised its position in shares of Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after buying an additional 2,579,720 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Zoom Video Communications by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock worth $80,827,000 after acquiring an additional 264,217 shares during the last quarter. Finally, Primecap Management Co. CA boosted its position in shares of Zoom Video Communications by 20.0% during the second quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock worth $75,794,000 after acquiring an additional 213,575 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZM. Piper Sandler decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Robert W. Baird decreased their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Benchmark increased their price target on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wedbush started coverage on Zoom Video Communications in a research note on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.32.

Zoom Video Communications Trading Down 1.1 %

Shares of ZM stock traded down $0.85 on Thursday, reaching $78.84. 482,126 shares of the company’s stock were exchanged, compared to its average volume of 3,214,210. The company’s fifty day simple moving average is $70.01 and its 200 day simple moving average is $63.80. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $80.35. The stock has a market capitalization of $24.27 billion, a PE ratio of 28.56, a P/E/G ratio of 6.51 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. As a group, sell-side analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 37,206 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total value of $2,537,449.20. Following the transaction, the chief executive officer now owns 114,341 shares of the company’s stock, valued at $7,798,056.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Eric S. Yuan sold 37,206 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the sale, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at $7,798,056.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 5,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total transaction of $299,276.10. The disclosure for this sale can be found here. Insiders sold a total of 193,550 shares of company stock valued at $13,361,571 in the last three months. Company insiders own 10.78% of the company’s stock.

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.