Commonwealth Equity Services LLC Increases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Commonwealth Equity Services LLC raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 47.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 44,171 shares of the company’s stock after buying an additional 14,170 shares during the period. Commonwealth Equity Services LLC’s holdings in Zoom Video Communications were worth $2,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ZM. Principal Securities Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter valued at approximately $25,000. Quadrant Capital Group LLC lifted its stake in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter worth $32,000. Rakuten Securities Inc. acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth about $43,000. Finally, GAMMA Investing LLC purchased a new stake in Zoom Video Communications in the 4th quarter valued at about $48,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ZM. Jefferies Financial Group initiated 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. Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a report on Tuesday, May 21st. Wells Fargo & Company decreased their price target on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, June 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Finally, Morgan Stanley reduced their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average target price of $75.44.

Zoom Video Communications Trading Down 0.1 %

NASDAQ:ZM traded down $0.03 during trading hours on Friday, hitting $58.60. The company’s stock had a trading volume of 761,815 shares, compared to its average volume of 3,308,978. Zoom Video Communications, Inc. has a 52-week low of $55.63 and a 52-week high of $75.90. The stock has a market capitalization of $18.12 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 9.00 and a beta of -0.05. The stock has a fifty day moving average of $61.02 and a 200-day moving average of $64.47.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, May 20th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. On average, sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 27,963 shares of Zoom Video Communications stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the sale, the chief executive officer now directly owns 95,140 shares in the company, valued at approximately $5,896,777.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,791 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.97, for a total value of $238,719.27. Following the completion of the sale, the insider now owns 91,721 shares in the company, valued at $5,775,671.37. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares in the company, valued at $5,896,777.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,093 shares of company stock valued at $6,326,899. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications 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.