Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Gradient Investments LLC

Gradient Investments LLC trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 44.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 509 shares of the company’s stock after selling 414 shares during the period. Gradient Investments LLC’s holdings in Zoom Video Communications were worth $55,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ZM. Covington Capital Management increased its position in shares of Zoom Video Communications by 10,000.0% during the second quarter. Covington Capital Management now owns 707 shares of the company’s stock worth $76,000 after purchasing an additional 700 shares in the last quarter. DnB Asset Management AS increased its position in shares of Zoom Video Communications by 10.7% during the second quarter. DnB Asset Management AS now owns 38,341 shares of the company’s stock worth $4,140,000 after purchasing an additional 3,718 shares in the last quarter. Amalgamated Bank increased its position in shares of Zoom Video Communications by 28.5% during the first quarter. Amalgamated Bank now owns 24,690 shares of the company’s stock worth $2,894,000 after purchasing an additional 5,470 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Zoom Video Communications during the first quarter worth approximately $54,000. Finally, American Trust purchased a new stake in shares of Zoom Video Communications during the first quarter worth approximately $481,000. 52.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 2,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 77,676 shares of the company’s stock, valued at approximately $9,058,575.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kelly Steckelberg sold 6,700 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $105.46, for a total value of $706,582.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 2,000 shares of the company’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 owns 77,676 shares of the company’s stock, valued at approximately $9,058,575.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,823 shares of company stock valued at $3,526,086. Insiders own 11.24% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $75.94 on Thursday. The business has a 50-day simple moving average of $94.94 and a 200-day simple moving average of $103.29. The company has a market cap of $22.60 billion, a PE ratio of 23.51, a P/E/G ratio of 4.31 and a beta of -0.49. Zoom Video Communications, Inc. has a one year low of $75.32 and a one year 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 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Zoom Video Communications, Inc. will post 1.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI dropped their target price on Zoom Video Communications to $95.00 in a report on Tuesday, August 23rd. Robert W. Baird dropped their target price on Zoom Video Communications from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, August 23rd. Royal Bank of Canada dropped their target price on Zoom Video Communications from $150.00 to $130.00 in a report on Tuesday, August 23rd. Stifel Nicolaus dropped their target price on Zoom Video Communications from $120.00 to $90.00 in a report on Tuesday, August 23rd. Finally, Piper Sandler dropped their target price on Zoom Video Communications from $115.00 to $91.00 and set a “neutral” rating for the company in a report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $139.58.

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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