12,968 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Acquired by Continuum Advisory LLC

Continuum Advisory LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,968 shares of the company’s stock, valued at approximately $958,000.

A number of other institutional investors have also recently made changes to their positions in ZM. Global Wealth Management Investment Advisory Inc. grew its stake in shares of 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 worth $34,000 after purchasing an additional 114 shares during the last quarter. Neo Ivy Capital Management grew its position in shares of Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the last quarter. Covestor Ltd increased its stake in shares of Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after buying an additional 171 shares during the period. Money Concepts Capital Corp raised its holdings in shares of Zoom Video Communications by 821.2% during the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after acquiring an additional 427 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Zoom Video Communications by 69.2% during the first quarter. Allworth Financial LP now owns 587 shares of the company’s stock valued at $43,000 after acquiring an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ZM. Moffett Nathanson raised shares of Zoom Video Communications from an “underperform” rating to a “market perform” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 23rd. Wells Fargo & Company reduced their price target on shares of Zoom Video Communications from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 22nd. Robert W. Baird lowered their price objective on shares of Zoom Video Communications from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, August 22nd. Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, August 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Zoom Video Communications from $85.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.05.

Zoom Video Communications Price Performance

ZM stock opened at $73.68 on Friday. The company has a market cap of $22.17 billion, a P/E ratio of 167.46, a price-to-earnings-growth ratio of 1.24 and a beta of -0.20. Zoom Video Communications, Inc. has a 1 year low of $60.45 and a 1 year high of $89.67. The stock’s fifty day moving average price is $69.31 and its 200-day moving average price is $68.58.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, August 21st. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.06 by $0.28. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, analysts expect that Zoom Video Communications, Inc. will post 1.77 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 3,224 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $68.94, for a total value of $222,262.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,067 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $67.80, for a total transaction of $140,142.60. Following the sale, the director now directly owns 172,095 shares of the company’s stock, valued at $11,668,041. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 3,224 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $68.94, for a total value of $222,262.56. The disclosure for this sale can be found here. Insiders have sold 81,495 shares of company stock worth $5,703,425 in the last 90 days. 11.28% of the stock is currently owned by insiders.

Zoom Video Communications Company Profile

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.