Private Advisor Group LLC Acquires New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Private Advisor Group LLC purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,799 shares of the company’s stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Xponance Inc. increased its stake in Zoom Video Communications by 2.0% in the 4th quarter. Xponance Inc. now owns 9,279 shares of the company’s stock valued at $667,000 after buying an additional 179 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Zoom Video Communications by 3.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,528 shares of the company’s stock worth $457,000 after purchasing an additional 200 shares during the last quarter. Amalgamated Bank increased its stake in shares of Zoom Video Communications by 0.8% during the 3rd quarter. Amalgamated Bank now owns 24,850 shares of the company’s stock worth $1,738,000 after purchasing an additional 205 shares during the last quarter. Excalibur Management Corp increased its stake in shares of Zoom Video Communications by 6.8% during the 3rd quarter. Excalibur Management Corp now owns 4,083 shares of the company’s stock worth $286,000 after purchasing an additional 259 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of Zoom Video Communications by 101.4% during the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho lowered their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price for the company. Citigroup upped their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday. Evercore ISI reduced their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.67.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 816 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $66.60, for a total transaction of $54,345.60. Following the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Aparna Bawa sold 816 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,734.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total value of $317,243.52. The disclosure for this sale can be found here. Insiders have sold 101,170 shares of company stock worth $6,356,101 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 0.8 %

Shares of Zoom Video Communications stock opened at $64.38 on Thursday. The company has a market capitalization of $19.80 billion, a price-to-earnings ratio of 24.02 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $58.87 and a 12-month high of $75.90. The firm’s 50-day moving average price is $63.21 and its two-hundred day moving average price is $65.90.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.84%. On average, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

About Zoom Video Communications

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.