Belpointe Asset Management LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Belpointe Asset Management LLC acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 890 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. WealthPlan Investment Management LLC purchased a new position in shares of Zoom Video Communications in the 3rd quarter valued at approximately $306,000. Daiwa Securities Group Inc. increased its stake in shares of Zoom Video Communications by 2.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 33,166 shares of the company’s stock worth $2,246,000 after acquiring an additional 793 shares in the last quarter. Seven Eight Capital LP purchased a new position in Zoom Video Communications during the 3rd quarter valued at about $940,000. D.A. Davidson & CO. boosted its stake in Zoom Video Communications by 10.1% during the third quarter. D.A. Davidson & CO. now owns 11,951 shares of the company’s stock worth $879,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Zoom Video Communications by 12.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 365,957 shares of the company’s stock worth $26,931,000 after purchasing an additional 41,405 shares during the period. Hedge funds and other institutional investors own 52.96% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the subject of a number of analyst reports. Roth Capital reaffirmed a “neutral” rating on shares of Zoom Video Communications in a research report on Wednesday, February 8th. Piper Sandler lifted their price target on Zoom Video Communications from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 28th. Citigroup boosted their target price on shares of Zoom Video Communications from $67.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 1st. Benchmark reissued a “buy” rating and issued a $102.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 28th. Finally, Royal Bank of Canada boosted their price target on Zoom Video Communications from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $88.70.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 14,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $70.93, for a total value of $993,020.00. Following the transaction, the chief operating officer now owns 76,777 shares of the company’s stock, valued at approximately $5,445,792.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Aparna Bawa sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $70.93, for a total value of $993,020.00. Following the completion of the sale, the chief operating officer now owns 76,777 shares of the company’s stock, valued at approximately $5,445,792.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $68.32, for a total transaction of $220,263.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,893 shares of company stock worth $7,116,654. 11.28% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Up 2.9 %

ZM stock opened at $71.41 on Tuesday. The company has a fifty day simple moving average of $67.52 and a two-hundred day simple moving average of $71.26. Zoom Video Communications, Inc. has a 52 week low of $60.45 and a 52 week high of $124.05. The firm has a market capitalization of $20.98 billion, a P/E ratio of 223.16, a price-to-earnings-growth ratio of 3.74 and a beta of -0.22.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last released its quarterly earnings results on Monday, May 22nd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.99 by $0.17. Zoom Video Communications had a return on equity of 2.70% and a net margin of 2.36%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $0.47 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, analysts anticipate that Zoom Video Communications, Inc. will post 0.74 EPS for the current year.

Zoom Video Communications Company Profile

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Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.