Pallas Capital Advisors LLC Buys Shares of 17,132 Zoom Video Communications, Inc. (NASDAQ:ZM)

Pallas Capital Advisors 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 Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,132 shares of the company’s stock, valued at approximately $1,245,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP raised its position in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the last quarter. Axiom Advisory LLC increased its stake in shares of Zoom Video Communications by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after purchasing an additional 183 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in shares of Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after purchasing an additional 189 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Zoom Video Communications by 1.7% in 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 in the last quarter. Finally, Excalibur Management Corp grew its holdings in Zoom Video Communications by 5.6% during the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock valued at $257,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity

In related news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the completion of the sale, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $56.12, for a total transaction of $135,810.40. Following the transaction, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now owns 57,371 shares of the company’s stock, valued at approximately $4,099,157.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,477 shares of company stock valued at $12,842,978. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $75.50 on Wednesday. The firm has a market capitalization of $23.24 billion, a PE ratio of 28.17, a P/E/G ratio of 6.26 and a beta of -0.04. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $75.96. The business has a 50-day moving average of $69.10 and a two-hundred day moving average of $63.13.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, research analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Thursday, October 10th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, October 4th. Benchmark upped their target price 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. Robert W. Baird lowered their price target 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. Finally, Piper Sandler reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.