SeaCrest Wealth Management LLC purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 239 shares of the company's stock, valued at approximately $26,000.

A number of other institutional investors also recently added to or reduced their stakes in ZM. BlackRock Inc. lifted its position in shares of Zoom Video Communications by 3.0% during the 1st quarter. BlackRock Inc. now owns 10,688,031 shares of the company's stock worth $1,252,959,000 after buying an additional 307,766 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Zoom Video Communications by 61.0% during the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company's stock worth $756,052,000 after buying an additional 2,444,294 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Zoom Video Communications by 0.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,270,025 shares of the company's stock worth $569,005,000 after buying an additional 27,668 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Zoom Video Communications by 26.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,632,137 shares of the company's stock worth $544,739,000 after buying an additional 963,858 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Zoom Video Communications by 93.6% during the 1st quarter. Fisher Asset Management LLC now owns 4,400,598 shares of the company's stock worth $515,882,000 after buying an additional 2,127,054 shares during the last quarter. Hedge funds and other institutional investors own 52.86% of the company's stock.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 2,374 shares of the business's stock in a transaction dated Saturday, October 8th. The shares were sold at an average price of $71.59, for a total value of $169,954.66. Following the sale, the insider now directly owns 15,869 shares in the company, valued at approximately $1,136,061.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.24% of the company's stock.

Zoom Video Communications Stock Down 1.3 %

Zoom Video Communications (NASDAQ:ZM – Get Rating) last posted its quarterly earnings results on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.23. Zoom Video Communications had a net margin of 16.07% and a return on equity of 8.80%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same period in the prior year, the company posted $0.72 EPS. The business's revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts anticipate that Zoom Video Communications, Inc. will post 1.32 earnings per share for the current year.

Analysts Set New Price Targets

ZM has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday. BTIG Research downgraded shares of Zoom Video Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 23rd. Barclays cut their target price on shares of Zoom Video Communications from $90.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday. Stifel Nicolaus cut their target price on shares of Zoom Video Communications from $90.00 to $80.00 in a report on Wednesday, November 9th. Finally, Evercore ISI cut their target price on shares of Zoom Video Communications from $95.00 to $85.00 in a report on Tuesday. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of "Hold" and an average target price of $115.86.

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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