Axiom Advisory LLC Grows Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Axiom Advisory LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,712 shares of the company’s stock after acquiring an additional 183 shares during the quarter. Axiom Advisory LLC’s holdings in Zoom Video Communications were worth $817,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ZM. Baader Bank Aktiengesellschaft lifted its stake in shares of Zoom Video Communications by 0.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after acquiring an additional 189 shares in the last quarter. Cantor Fitzgerald L. P. raised its position in shares of Zoom Video Communications by 2.7% in the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock valued at $544,000 after purchasing an additional 197 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Zoom Video Communications by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after buying an additional 223 shares during the last quarter. Excalibur Management Corp grew its position in shares of Zoom Video Communications by 5.6% during the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after buying an additional 232 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Zoom Video Communications by 2.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock worth $669,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 0.2 %

Shares of Zoom Video Communications stock opened at $68.32 on Wednesday. The business has a fifty day simple moving average of $64.80 and a 200-day simple moving average of $62.35. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 5.92 and a beta of -0.04. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77.

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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Aparna Bawa sold 831 shares of the stock in a transaction on 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 owns 1,978 shares in the company, valued at $131,121.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, CAO Shane Crehan sold 2,478 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $69.09, for a total transaction of $171,205.02. Following the completion of the sale, the chief accounting officer now directly owns 2,383 shares in the company, valued at approximately $164,641.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction dated 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 in the company, valued at approximately $131,121.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,255 shares of company stock worth $4,200,495. Insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Benchmark reiterated a “buy” rating and issued a $83.00 price target on shares of Zoom Video Communications in a research note on Monday, August 5th. Bank of America cut their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Piper Sandler decreased their target price on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.68.

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.