Park Avenue Securities LLC Sells 2,195 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Park Avenue Securities LLC lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 35.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,943 shares of the company’s stock after selling 2,195 shares during the period. Park Avenue Securities LLC’s holdings in Zoom Video Communications were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Signature Wealth Management Partners LLC boosted its holdings in Zoom Video Communications by 4.5% in the second quarter. Signature Wealth Management Partners LLC now owns 2,426 shares of the company’s stock valued at $262,000 after acquiring an additional 105 shares during the last quarter. Ieq Capital LLC boosted its holdings in Zoom Video Communications by 0.4% in the second quarter. Ieq Capital LLC now owns 27,254 shares of the company’s stock valued at $2,943,000 after acquiring an additional 109 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in 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 valued at $34,000 after buying an additional 114 shares during the period. CNB Bank lifted its stake in Zoom Video Communications by 7.0% in the second quarter. CNB Bank now owns 1,794 shares of the company’s stock valued at $194,000 after buying an additional 118 shares during the period. Finally, Brinker Capital Investments LLC lifted its stake in Zoom Video Communications by 5.2% in the second quarter. Brinker Capital Investments LLC now owns 2,421 shares of the company’s stock valued at $261,000 after buying an additional 120 shares during the period. Institutional investors own 52.96% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the topic of several analyst reports. Morgan Stanley cut their target price on Zoom Video Communications from $85.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 14th. Mizuho cut their target price on Zoom Video Communications from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 22nd. Citigroup cut their target price on Zoom Video Communications from $76.00 to $72.00 and set a “sell” rating on the stock in a research note on Wednesday, November 16th. Moffett Nathanson cut their target price on Zoom Video Communications from $85.00 to $80.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 22nd. Finally, Barclays cut their target price on Zoom Video Communications from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 23rd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $103.76.

Zoom Video Communications Trading Up 2.1 %

Shares of NASDAQ ZM opened at $70.97 on Tuesday. Zoom Video Communications, Inc. has a 12 month low of $63.55 and a 12 month high of $156.05. The stock has a 50 day moving average of $71.66 and a 200-day moving average of $82.63. The company has a market capitalization of $21.12 billion, a P/E ratio of 31.13, a P/E/G ratio of 3.57 and a beta of -0.26.

Zoom Video Communications (NASDAQ:ZMGet Rating) last issued its earnings results on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Zoom Video Communications had a return on equity of 8.86% and a net margin of 16.07%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that Zoom Video Communications, Inc. will post 1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 2,993 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $69.54, for a total transaction of $208,133.22. Following the completion of the sale, the insider now directly owns 24,395 shares of the company’s stock, valued at approximately $1,696,428.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 3,224 shares of Zoom Video Communications stock in a transaction on Friday, December 9th. The stock was sold at an average price of $72.87, for a total value of $234,932.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 2,993 shares of Zoom Video Communications stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $69.54, for a total value of $208,133.22. Following the completion of the transaction, the insider now directly owns 24,395 shares of the company’s stock, valued at $1,696,428.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,218 shares of company stock valued at $1,490,951. Insiders own 11.24% of the company’s stock.

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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