Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Easterly Investment Partners LLC

Easterly Investment Partners LLC raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 11.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 109,679 shares of the company’s stock after buying an additional 11,043 shares during the period. Easterly Investment Partners LLC’s holdings in Zoom Video Communications were worth $7,649,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Zoom Video Communications during the 2nd quarter valued at about $33,000. Allworth Financial LP grew its stake in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications in the 2nd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications in the 2nd quarter worth approximately $41,000. Finally, Versant Capital Management Inc grew its stake in shares of Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after purchasing an additional 893 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Wedbush assumed coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.32.

Zoom Video Communications Stock Up 0.4 %

Shares of NASDAQ:ZM traded up $0.35 during trading on Friday, reaching $80.54. The stock had a trading volume of 848,915 shares, compared to its average volume of 3,212,119. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $81.20. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 6.87 and a beta of -0.05. The stock has a fifty day simple moving average of $70.01 and a two-hundred day simple moving average of $63.80.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kelly Steckelberg sold 5,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total transaction of $299,276.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kelly Steckelberg sold 5,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total transaction of $299,276.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 372,121 shares of company stock valued at $27,095,467. 10.78% of the stock is owned by company 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.