Crossmark Global Holdings Inc. Purchases New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Crossmark Global Holdings Inc. purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,903 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZM. Allworth Financial LP raised its position in shares of Zoom Video Communications by 43.8% during the 3rd 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. Axiom Advisory LLC raised its holdings in shares of Zoom Video Communications by 1.6% during the third quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock valued at $817,000 after acquiring an additional 183 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its position 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 valued at $1,370,000 after acquiring an additional 189 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after acquiring an additional 223 shares during the last quarter. Finally, Excalibur Management Corp increased 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 purchasing an additional 232 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $78.93 on Tuesday. The company has a 50-day moving average of $72.31 and a two-hundred day moving average of $65.00. The firm has a market cap of $24.29 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 6.93 and a beta of -0.05. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results 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 firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total value of $299,276.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,121 shares of company stock valued at $27,095,467. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ZM shares. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Wedbush started coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.26.

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.