Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Diversified Trust Co

Diversified Trust Co raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 21.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,107 shares of the company’s stock after buying an additional 7,685 shares during the period. Diversified Trust Co’s holdings in Zoom Video Communications were worth $2,611,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Principal Securities Inc. acquired a new stake in Zoom Video Communications during the 4th quarter worth $25,000. Quadrant Capital Group LLC grew its holdings in shares of Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Zoom Video Communications in the 2nd quarter valued at about $36,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Zoom Video Communications in the 4th quarter valued at about $43,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Price Performance

ZM stock traded down $0.27 on Wednesday, hitting $56.38. 179,282 shares of the company were exchanged, compared to its average volume of 3,186,580. The stock has a market capitalization of $17.44 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 8.65 and a beta of -0.05. The business’s fifty day moving average is $58.53 and its two-hundred day moving average is $62.05. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZM shares. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Sanford C. Bernstein lowered their target price on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 21st. Benchmark restated a “buy” rating and issued a $83.00 target price on shares of Zoom Video Communications in a research note on Monday, August 5th. Evercore ISI reduced their price target on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, May 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $75.22.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $61.58, for a total value of $308,331.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $61.58, for a total value of $308,331.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 874 shares of Zoom Video Communications stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $61.78, for a total value of $53,995.72. Following the sale, the chief operating officer now directly owns 2,814 shares in the company, valued at $173,848.92. The disclosure for this sale can be found here. Insiders sold 118,629 shares of company stock valued at $6,887,868 over the last quarter. Company insiders own 10.78% of the company’s stock.

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.