Distillate Capital Partners LLC Makes New $14.11 Million Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Distillate Capital Partners LLC purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 238,369 shares of the company’s stock, valued at approximately $14,109,000. Distillate Capital Partners LLC owned 0.08% of Zoom Video Communications as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ZM. Evergreen Capital Management LLC grew its stake in Zoom Video Communications by 1.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 40,752 shares of the company’s stock worth $2,412,000 after buying an additional 618 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of Zoom Video Communications by 366.7% during the second quarter. Altshuler Shaham Ltd now owns 14,000 shares of the company’s stock valued at $829,000 after acquiring an additional 11,000 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Zoom Video Communications by 69.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock worth $102,000 after acquiring an additional 692 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Zoom Video Communications by 18.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 6,990 shares of the company’s stock worth $414,000 after acquiring an additional 1,082 shares during the period. Finally, Heron Bay Capital Management bought a new stake in Zoom Video Communications in the 2nd quarter valued at about $1,494,000. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ZM shares. Morgan Stanley decreased 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 research report on Friday, June 14th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. UBS Group upgraded Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Bank of America lowered their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Finally, Piper Sandler reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $74.68.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $57.59, for a total value of $288,353.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,915 shares of company stock valued at $7,661,812. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $68.79 on Tuesday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77. The firm’s 50 day simple moving average is $62.93 and its 200-day simple moving average is $62.27. The company has a market cap of $21.28 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 5.83 and a beta of -0.05.

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

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.