SeaCrest Wealth Management LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 239 shares of the company’s stock, valued at approximately $26,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ZM. Global Wealth Management Investment Advisory Inc. grew its position in Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Covestor Ltd grew its position in Zoom Video Communications by 76.7% in the first quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after acquiring an additional 171 shares in the last quarter. Glassman Wealth Services grew its position in Zoom Video Communications by 229.8% in the second quarter. Glassman Wealth Services now owns 465 shares of the company’s stock valued at $50,000 after acquiring an additional 324 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Zoom Video Communications in the first quarter valued at approximately $54,000. Finally, Focused Wealth Management Inc grew its position in Zoom Video Communications by 1,875.0% in the second quarter. Focused Wealth Management Inc now owns 632 shares of the company’s stock valued at $68,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 52.86% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Stifel Nicolaus reduced their target price on Zoom Video Communications from $90.00 to $80.00 in a research note on Wednesday, November 9th. Credit Suisse Group assumed coverage on Zoom Video Communications in a research note on Friday, September 23rd. They set a “neutral” rating and a $83.00 target price for the company. BTIG Research cut Zoom Video Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 23rd. Wells Fargo & Company reduced their target price on Zoom Video Communications from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, MKM Partners reduced their target price on Zoom Video Communications from $125.00 to $100.00 in a research note on Wednesday, November 9th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $115.86.
Insider Activity
In other news, insider Velchamy Sankarlingam sold 2,374 shares of the firm’s stock in a transaction on Saturday, October 8th. The stock was sold at an average price of $71.59, for a total transaction of $169,954.66. Following the transaction, the insider now directly owns 15,869 shares of the company’s stock, valued at $1,136,061.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.24% of the company’s stock.
Zoom Video Communications Stock Performance
ZM stock opened at $76.14 on Thursday. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.13 and a beta of -0.29. Zoom Video Communications, Inc. has a 1 year low of $70.43 and a 1 year high of $235.97. The stock’s fifty day moving average is $78.58 and its two-hundred day moving average is $93.66.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings results on Monday, November 21st. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, analysts predict that Zoom Video Communications, Inc. will post 1.32 EPS for the current fiscal year.
Zoom Video Communications Company Profile
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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.
See Also
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