Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 13,912 shares of the company’s stock after buying an additional 257 shares during the period. Amalgamated Bank’s holdings in Zoom Video Communications were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ZM. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications in the second quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $41,000. Allworth Financial LP increased its position in Zoom Video Communications by 43.8% during the third 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. Finally, Versant Capital Management Inc raised its stake in Zoom Video Communications by 1,257.7% during the second 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 period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 372,121 shares of company stock valued at $27,095,467 over the last three months. 10.78% of the stock is owned by insiders.

Zoom Video Communications Trading Down 2.8 %

Zoom Video Communications stock opened at $82.63 on Friday. The stock has a 50 day moving average of $71.48 and a 200-day moving average of $64.59. The stock has a market cap of $25.43 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 7.44 and a beta of -0.05. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $87.15.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZM. Morgan Stanley boosted their price objective on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wedbush began coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Wells Fargo & Company raised their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday, October 10th. Two research 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.26.

About Zoom Video Communications

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.