Wright Investors Service Inc. Invests $1.10 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Wright Investors Service Inc. bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,737 shares of the company’s stock, valued at approximately $1,097,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications during the second quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications during the second quarter valued at about $41,000. Versant Capital Management Inc boosted its position in shares of Zoom Video Communications by 1,257.7% during 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Zoom Video Communications by 69.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after buying an additional 692 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Zoom Video Communications stock traded up $1.45 during midday trading on Friday, hitting $68.66. 1,875,554 shares of the company’s stock were exchanged, compared to its average volume of 3,295,533. The company has a market cap of $21.13 billion, a P/E ratio of 25.62, a PEG ratio of 5.83 and a beta of -0.04. The stock has a 50-day moving average price of $64.64 and a two-hundred day moving average price of $62.37. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the completion of the sale, the chief executive officer now owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the completion of the sale, the chief executive officer now owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,809 shares of company stock worth $7,976,857 in the last 90 days. 10.78% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Friday. Bank of America lowered their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley lowered their price objective on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Wells Fargo & Company upped 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 note on Thursday, August 22nd. Finally, Robert W. Baird dropped their price target 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. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.68.

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.