LPL Financial LLC lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,567 shares of the company’s stock after buying an additional 8,786 shares during the quarter. LPL Financial LLC’s holdings in Zoom Video Communications were worth $7,709,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Money Concepts Capital Corp boosted its stake in Zoom Video Communications by 821.2% in the 4th quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock worth $32,000 after purchasing an additional 427 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in Zoom Video Communications by 63.3% in the 1st 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 in the last quarter. Neo Ivy Capital Management boosted its stake in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Allworth Financial LP boosted its stake in Zoom Video Communications by 69.2% in the 1st quarter. Allworth Financial LP now owns 587 shares of the company’s stock worth $43,000 after purchasing an additional 240 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Zoom Video Communications by 76.7% during the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after acquiring an additional 171 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ZM has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Zoom Video Communications from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 22nd. Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $75.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 12th. JPMorgan Chase & Co. lowered their target price on shares of Zoom Video Communications from $85.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 22nd. Finally, Citigroup upped their target price on shares of Zoom Video Communications from $65.00 to $66.00 and gave the company a “sell” rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $81.55.
Insider Buying and Selling at Zoom Video Communications
In other news, insider Velchamy Sankarlingam sold 1,586 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $70.69, for a total transaction of $112,114.34. Following the completion of the transaction, the insider now directly owns 58,306 shares in the company, valued at approximately $4,121,651.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,586 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $70.69, for a total transaction of $112,114.34. Following the completion of the transaction, the insider now directly owns 58,306 shares in the company, valued at approximately $4,121,651.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 16,957 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $63.14, for a total value of $1,070,664.98. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $124,890.92. The disclosure for this sale can be found here. Insiders sold a total of 137,274 shares of company stock valued at $9,233,847 in the last three months. 11.28% of the stock is currently owned by corporate insiders.
Zoom Video Communications Price Performance
Shares of ZM opened at $59.98 on Wednesday. Zoom Video Communications, Inc. has a 1 year low of $58.87 and a 1 year high of $89.67. The company has a 50 day simple moving average of $67.07 and a two-hundred day simple moving average of $67.26. The firm has a market cap of $18.05 billion, a P/E ratio of 136.32, a price-to-earnings-growth ratio of 1.00 and a beta of -0.19.
Zoom Video Communications (NASDAQ:ZM – Get Free Report) last announced its quarterly earnings data on Monday, August 21st. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.28. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.28 EPS. The company’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 1.77 earnings per share for the current year.
Zoom Video Communications Company Profile
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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