American Trust Acquires Shares of 4,100 Zoom Video Communications, Inc. (NASDAQ:ZM)

American Trust acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) during the 1st quarter, HoldingsChannel reports. The fund acquired 4,100 shares of the company’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZM. HM Payson & Co. lifted its stake in shares of Zoom Video Communications by 9.4% in the fourth quarter. HM Payson & Co. now owns 804 shares of the company’s stock worth $148,000 after buying an additional 69 shares in the last quarter. ETF Managers Group LLC lifted its stake in shares of Zoom Video Communications by 4.2% in the fourth quarter. ETF Managers Group LLC now owns 2,123 shares of the company’s stock worth $404,000 after buying an additional 86 shares in the last quarter. PrairieView Partners LLC lifted its stake in shares of Zoom Video Communications by 49.8% in the first quarter. PrairieView Partners LLC now owns 301 shares of the company’s stock worth $35,000 after buying an additional 100 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of 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 worth $34,000 after buying an additional 114 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of Zoom Video Communications by 17.6% in the first quarter. Benjamin Edwards Inc. now owns 881 shares of the company’s stock worth $103,000 after buying an additional 132 shares in the last quarter. 52.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZM. BTIG Research downgraded shares of Zoom Video Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 23rd. Argus downgraded shares of Zoom Video Communications from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Robert W. Baird decreased their price target on shares of Zoom Video Communications from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 23rd. Sanford C. Bernstein assumed coverage on shares of Zoom Video Communications in a research note on Tuesday, July 19th. They set a “market perform” rating and a $122.00 target price on the stock. Finally, Royal Bank of Canada reduced their target price on shares of Zoom Video Communications from $150.00 to $130.00 in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $139.58.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $78.68 on Friday. The stock has a market capitalization of $23.42 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 4.40 and a beta of -0.49. The company has a 50 day moving average price of $96.66 and a 200 day moving average price of $104.07. Zoom Video Communications, Inc. has a fifty-two week low of $77.33 and a fifty-two week high of $291.31.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its quarterly earnings data on Monday, August 22nd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The firm 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 business’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. On average, research analysts forecast that Zoom Video Communications, Inc. will post 1.31 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $112.04, for a total value of $750,668.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $112.04, for a total value of $750,668.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 2,404 shares of Zoom Video Communications stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $109.14, for a total transaction of $262,372.56. Following the completion of the transaction, the chief operating officer now owns 70,531 shares of the company’s stock, valued at approximately $7,697,753.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,823 shares of company stock worth $3,526,086. Corporate insiders own 11.24% of the company’s stock.

About Zoom Video Communications

(Get Rating)

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.

Further Reading

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

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