Commonwealth Equity Services LLC Decreases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Commonwealth Equity Services LLC trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,210 shares of the company’s stock after selling 3,756 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Zoom Video Communications were worth $6,003,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. HM Payson & Co. raised its position in shares of Zoom Video Communications by 9.4% during the 4th quarter. HM Payson & Co. now owns 804 shares of the company’s stock valued at $148,000 after buying an additional 69 shares in the last quarter. Sigma Planning Corp grew its holdings in Zoom Video Communications by 1.7% during the 4th quarter. Sigma Planning Corp now owns 4,441 shares of the company’s stock valued at $817,000 after purchasing an additional 75 shares during the last quarter. Paragon Advisors LLC grew its holdings in Zoom Video Communications by 7.0% during the 4th quarter. Paragon Advisors LLC now owns 1,222 shares of the company’s stock valued at $225,000 after purchasing an additional 80 shares during the last quarter. ETF Managers Group LLC grew its holdings in Zoom Video Communications by 4.2% during the 4th quarter. ETF Managers Group LLC now owns 2,123 shares of the company’s stock valued at $404,000 after purchasing an additional 86 shares during the last quarter. Finally, PrairieView Partners LLC grew its holdings in Zoom Video Communications by 49.8% during the 1st quarter. PrairieView Partners LLC now owns 301 shares of the company’s stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. 55.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zoom Video Communications

In related news, COO Aparna Bawa sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $116.62, for a total transaction of $233,240.00. Following the completion of the transaction, the chief operating officer now directly owns 77,676 shares in the company, valued at $9,058,575.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zoom Video Communications news, COO Aparna Bawa sold 2,000 shares of Zoom Video Communications stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $116.62, for a total value of $233,240.00. Following the completion of the transaction, the chief operating officer now owns 77,676 shares of the company’s stock, valued at $9,058,575.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction on Monday, July 18th. The shares were sold at an average price of $102.00, for a total transaction of $683,400.00. The disclosure for this sale can be found here. Insiders sold 48,223 shares of company stock worth $5,097,391 over the last three months. Company insiders own 11.24% of the company’s stock.

Zoom Video Communications Trading Up 2.6 %

NASDAQ:ZM opened at $108.16 on Wednesday. Zoom Video Communications, Inc. has a 12 month low of $79.03 and a 12 month high of $404.35. The firm has a fifty day simple moving average of $109.50 and a 200-day simple moving average of $115.05. The company has a market capitalization of $32.27 billion, a P/E ratio of 26.25, a PEG ratio of 4.25 and a beta of -0.61.

Zoom Video Communications (NASDAQ:ZMGet Rating) last posted its quarterly earnings data on Monday, May 23rd. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.35 by $0.12. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Zoom Video Communications had a net margin of 29.91% and a return on equity of 16.56%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. Equities analysts forecast that Zoom Video Communications, Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler upped their price target on shares of Zoom Video Communications from $96.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Sanford C. Bernstein assumed coverage on shares of Zoom Video Communications in a report on Tuesday, July 19th. They set a “market perform” rating and a $122.00 price target on the stock. Daiwa Capital Markets upgraded shares of Zoom Video Communications from an “underperform” rating to an “outperform” rating and upped their price target for the company from $107.00 to $121.00 in a report on Monday, May 30th. TheStreet raised shares of Zoom Video Communications from a “d” rating to a “c” rating in a research report on Monday, April 18th. Finally, Guggenheim reduced their target price on shares of Zoom Video Communications to $130.00 in a research report on Wednesday, May 25th. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $161.53.

Zoom Video Communications 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.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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