Global Assets Advisory LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Global Assets Advisory LLC bought a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,441 shares of the company’s stock, valued at approximately $1,075,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZM. Principal Securities Inc. purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC grew its stake in Zoom Video Communications by 269.7% in 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 period. Frazier Financial Advisors LLC bought a new position in Zoom Video Communications in the fourth quarter worth $32,000. Rakuten Securities Inc. purchased a new position in Zoom Video Communications during the fourth quarter valued at $43,000. Finally, GAMMA Investing LLC bought a new stake in shares of Zoom Video Communications during the 4th quarter valued at $48,000. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZM. Citigroup increased their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Morgan Stanley lowered their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Wells Fargo & Company dropped their target price on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, June 21st. Finally, Robert W. Baird lowered their price target on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $75.44.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Zoom Video Communications news, Director Santiago Subotovsky sold 1,100 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $65.38, for a total value of $71,918.00. Following the completion of the sale, the director now owns 154,459 shares in the company, valued at approximately $10,098,529.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 27,963 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of 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. Insiders sold 104,193 shares of company stock worth $6,427,858 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 0.4 %

Zoom Video Communications stock opened at $57.54 on Thursday. Zoom Video Communications, Inc. has a 52-week low of $55.63 and a 52-week high of $75.90. The company has a market cap of $17.80 billion, a P/E ratio of 21.47, a P/E/G ratio of 8.87 and a beta of -0.01. The business has a 50-day simple moving average of $61.27 and a two-hundred day simple moving average of $65.01.

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

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.