Advisors Asset Management Inc. Sells 544 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Advisors Asset Management Inc. lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 21.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,030 shares of the company’s stock after selling 544 shares during the quarter. Advisors Asset Management Inc.’s holdings in Zoom Video Communications were worth $219,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. IFM Investors Pty Ltd grew its stake in Zoom Video Communications by 5.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 35,708 shares of the company’s stock valued at $3,855,000 after purchasing an additional 1,832 shares during the period. LeJeune Puetz Investment Counsel LLC bought a new position in Zoom Video Communications in the 2nd quarter valued at $251,000. Envestnet Asset Management Inc. grew its stake in Zoom Video Communications by 26.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 69,014 shares of the company’s stock valued at $7,451,000 after purchasing an additional 14,557 shares during the period. Independent Advisor Alliance grew its stake in Zoom Video Communications by 6.6% in the 1st quarter. Independent Advisor Alliance now owns 6,865 shares of the company’s stock valued at $805,000 after purchasing an additional 428 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Zoom Video Communications by 331.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 729 shares of the company’s stock worth $78,000 after acquiring an additional 560 shares during the period. Institutional investors own 52.86% of the company’s stock.

Zoom Video Communications Trading Down 1.2 %

Shares of Zoom Video Communications stock opened at $81.64 on Monday. The firm has a market capitalization of $24.30 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 3.19 and a beta of -0.29. The business’s 50-day moving average price is $78.69 and its 200-day moving average price is $93.94. Zoom Video Communications, Inc. has a 12 month low of $70.43 and a 12 month high of $265.23.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its quarterly earnings data on Monday, August 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.17). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. Zoom Video Communications’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. As a group, analysts predict that Zoom Video Communications, Inc. will post 1.32 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 2,374 shares of the stock in a transaction dated 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 in the company, valued at approximately $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.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZM. MKM Partners cut their price target on Zoom Video Communications from $125.00 to $100.00 in a research note on Wednesday, November 9th. Moffett Nathanson began coverage on Zoom Video Communications in a research note on Thursday, September 22nd. They set a “sell” rating and a $86.00 price target for the company. JPMorgan Chase & Co. downgraded Zoom Video Communications from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $295.00 to $85.00 in a research note on Friday, October 7th. Robert W. Baird cut their price target on Zoom Video Communications from $125.00 to $100.00 in a research note on Friday. Finally, Benchmark cut their price target on Zoom Video Communications from $128.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $125.67.

About Zoom Video Communications

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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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