Capital Performance Advisors LLP Purchases New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Capital Performance Advisors LLP acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,620 shares of the company’s stock, valued at approximately $183,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Zoom Video Communications in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the second quarter worth $41,000. Allworth Financial LP boosted its position in Zoom Video Communications by 43.8% in 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 grew its stake in Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after purchasing an additional 893 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Up 0.7 %

Shares of ZM traded up $0.59 during trading hours on Friday, hitting $80.78. The company had a trading volume of 618,807 shares, compared to its average volume of 3,211,059. The firm has a market cap of $24.86 billion, a P/E ratio of 28.74, a P/E/G ratio of 6.87 and a beta of -0.05. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $81.20. The stock’s 50 day moving average price is $70.01 and its 200 day moving average price is $63.80.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating 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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.55 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the transaction, the insider now owns 94,000 shares in the company, valued at $6,285,780. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the sale, the chief accounting officer now owns 1,463 shares in the company, valued at approximately $97,830.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares in the company, valued at $6,285,780. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 372,121 shares of company stock worth $27,095,467 over the last quarter. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Bank of America reduced their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Wells Fargo & Company raised their target price on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. UBS Group raised Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Wedbush started coverage on 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, Benchmark upped their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two equities 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.32.

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.