Covestor Ltd Purchases 974 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Covestor Ltd increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 25.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,769 shares of the company’s stock after buying an additional 974 shares during the period. Covestor Ltd’s holdings in Zoom Video Communications were worth $332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZM. Innealta Capital LLC purchased a new position in shares of Zoom Video Communications in the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications during the second quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the second quarter worth approximately $41,000. Allworth Financial LP lifted its stake in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Zoom Video Communications by 1,257.7% in the 2nd 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. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Up 1.6 %

Shares of ZM stock opened at $81.46 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $81.57. The business’s fifty day simple moving average is $70.46 and its 200-day simple moving average is $64.07. The company has a market cap of $25.07 billion, a PE ratio of 29.20, a PEG ratio of 7.02 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released 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 return on equity of 10.77% and a net margin of 19.08%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business posted $0.55 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Insider Buying and Selling at Zoom Video Communications

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

Wall Street Analyst Weigh In

ZM has been the topic of several recent research reports. Stifel Nicolaus increased their price target on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 10th. Robert W. Baird lowered their target price 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. Wells Fargo & Company upped their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $75.32.

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.