Private Advisor Group LLC grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 12.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,074 shares of the company's stock after buying an additional 1,627 shares during the quarter. Private Advisor Group LLC's holdings in Zoom Video Communications were worth $1,628,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in Zoom Video Communications during the fourth quarter worth approximately $26,000. GHP Investment Advisors Inc. purchased a new stake in Zoom Video Communications during the first quarter worth approximately $29,000. Nauset Wealth Management. LLC purchased a new stake in Zoom Video Communications during the first quarter worth approximately $30,000. Private Capital Group LLC lifted its stake in Zoom Video Communications by 242.1% during the first quarter. Private Capital Group LLC now owns 260 shares of the company's stock worth $31,000 after purchasing an additional 184 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its stake in Zoom Video Communications by 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company's stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 52.86% of the company's stock.
Get Zoom Video Communications alerts:Zoom Video Communications Trading Down 1.9 %
Shares of ZM opened at $74.47 on Friday. The stock has a market cap of $22.17 billion, a P/E ratio of 23.06, a PEG ratio of 4.09 and a beta of -0.49. The company has a 50-day moving average of $91.56 and a two-hundred day moving average of $102.08. Zoom Video Communications, Inc. has a 12-month low of $72.96 and a 12-month high of $291.31.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last announced its earnings results on Monday, August 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.11. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, analysts forecast that Zoom Video Communications, Inc. will post 1.3 EPS for the current fiscal year.Insider Transactions at Zoom Video Communications
In other news, COO Aparna Bawa sold 2,000 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total transaction of $217,620.00. Following the completion of the sale, the chief operating officer now directly owns 78,147 shares in the company, valued at $8,503,175.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Aparna Bawa sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total value of $217,620.00. Following the completion of the sale, the chief operating officer now directly owns 78,147 shares in the company, valued at $8,503,175.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 6,700 shares of the business's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $105.46, for a total transaction of $706,582.00. The disclosure for this sale can be found here. Insiders sold a total of 24,123 shares of company stock worth $2,542,178 over the last ninety days. 11.24% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on ZM. Stifel Nicolaus decreased their target price on Zoom Video Communications from $120.00 to $90.00 in a research note on Tuesday, August 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Zoom Video Communications from $105.00 to $95.00 in a research report on Tuesday, August 23rd. Royal Bank of Canada cut their price target on Zoom Video Communications from $150.00 to $130.00 in a research report on Tuesday, August 23rd. BTIG Research lowered Zoom Video Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 23rd. Finally, Robert W. Baird cut their price target on Zoom Video Communications from $140.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of "Hold" and a consensus price target of $136.03.
About Zoom Video Communications
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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.
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