Raymond James Financial Services Advisors Inc. Sells 8,767 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Raymond James Financial Services Advisors Inc. lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,184 shares of the company’s stock after selling 8,767 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Zoom Video Communications were worth $2,519,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Accurate Wealth Management LLC bought a new position in Zoom Video Communications during the 4th quarter worth about $26,000. Global Wealth Management Investment Advisory Inc. increased its holdings in Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Zoom Video Communications by 57.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 529 shares of the company’s stock worth $39,000 after buying an additional 194 shares during the last quarter. Ronald Blue Trust Inc. lifted its stake in Zoom Video Communications by 101.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 525 shares of the company’s stock valued at $39,000 after purchasing an additional 264 shares during the last quarter. Finally, Neo Ivy Capital Management lifted its stake in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 52.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ZM shares. Moffett Nathanson upgraded shares of Zoom Video Communications from an “underperform” rating to a “market perform” rating and set a $85.00 target price for the company in a research note on Tuesday. Roth Capital restated a “neutral” rating on shares of Zoom Video Communications in a research report on Wednesday, February 8th. Rosenblatt Securities began coverage on shares of Zoom Video Communications in a research report on Thursday, March 23rd. They set a “neutral” rating and a $75.00 price objective for the company. Piper Sandler cut their price objective on shares of Zoom Video Communications from $78.00 to $76.00 in a research report on Tuesday. Finally, Evercore ISI cut their price objective on shares of Zoom Video Communications from $85.00 to $75.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $88.39.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $65.65 on Wednesday. Zoom Video Communications, Inc. has a fifty-two week low of $60.45 and a fifty-two week high of $124.05. The firm has a market capitalization of $19.29 billion, a P/E ratio of 166.07, a P/E/G ratio of 3.85 and a beta of -0.22. The company’s 50 day moving average price is $67.45 and its two-hundred day moving average price is $71.17.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its earnings results on Monday, May 22nd. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. Zoom Video Communications had a net margin of 0.12% and a return on equity of 2.38%. The firm had revenue of $1.11 billion for 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 company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Zoom Video Communications, Inc. will post 0.74 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 14,000 shares of Zoom Video Communications stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $70.93, for a total transaction of $993,020.00. Following the transaction, the chief operating officer now owns 76,777 shares in the company, valued at $5,445,792.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Kelly Steckelberg sold 3,224 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $63.88, for a total value of $205,949.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 14,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $70.93, for a total transaction of $993,020.00. Following the completion of the transaction, the chief operating officer now owns 76,777 shares in the company, valued at approximately $5,445,792.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,893 shares of company stock worth $7,116,654. Company insiders own 11.28% of the company’s stock.

Zoom Video Communications 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.