Mizuho Markets Americas LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mizuho Markets Americas LLC purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 26,524 shares of the company’s stock, valued at approximately $1,850,000.

A number of other hedge funds have also added to or reduced their stakes in ZM. Innealta Capital LLC acquired a new position in Zoom Video Communications during the second quarter worth about $33,000. Allworth Financial LP increased its position in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications during the 2nd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Zoom Video Communications in the 2nd quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC boosted its position in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,121.62. This represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 372,121 shares of company stock valued at $27,095,467. Company insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZM. Wedbush assumed coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Morgan Stanley upped their target price on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, October 4th. Wells Fargo & Company upped their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Finally, Bank of America cut their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.26.

Zoom Video Communications Stock Down 1.8 %

Zoom Video Communications stock opened at $81.14 on Friday. The company has a market capitalization of $24.97 billion, a PE ratio of 29.08, a PEG ratio of 6.99 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $87.15. The firm’s fifty day moving average is $72.07 and its 200 day moving average is $64.87.

Zoom Video Communications (NASDAQ:ZM) last announced 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. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. Sell-side analysts expect that Zoom Video Communications, Inc. will post 2.77 EPS for the current fiscal year.

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.