Thurston Springer Miller Herd & Titak Inc. Purchases New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 600 shares of the company’s stock, valued at approximately $36,000.

A number of other hedge funds also recently bought and sold shares of the business. DNB Asset Management AS boosted its position in shares of Zoom Video Communications by 4.8% in the 2nd quarter. DNB Asset Management AS now owns 41,219 shares of the company’s stock worth $2,440,000 after purchasing an additional 1,903 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Zoom Video Communications by 613.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 529,041 shares of the company’s stock worth $34,980,000 after purchasing an additional 454,923 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Zoom Video Communications by 52.1% in the 1st quarter. Cetera Advisors LLC now owns 6,307 shares of the company’s stock worth $412,000 after purchasing an additional 2,160 shares in the last quarter. Swedbank AB bought a new stake in shares of Zoom Video Communications in the 1st quarter worth approximately $2,100,000. Finally, Plato Investment Management Ltd boosted its position in shares of Zoom Video Communications by 549.3% in the 1st quarter. Plato Investment Management Ltd now owns 8,389 shares of the company’s stock worth $548,000 after purchasing an additional 7,097 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ZM. Citigroup upped their price objective on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Wells Fargo & Company lowered their price objective on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, June 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Benchmark reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research report on Monday. Finally, Rosenblatt Securities upped their price objective on Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $75.22.

Zoom Video Communications Stock Performance

Shares of ZM traded up $0.20 during midday trading on Tuesday, hitting $55.83. 3,303,139 shares of the company traded hands, compared to its average volume of 3,234,884. The firm has a 50 day moving average of $59.18 and a 200-day moving average of $62.59. Zoom Video Communications, Inc. has a 52 week low of $55.60 and a 52 week high of $75.90. The stock has a market cap of $17.27 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 8.97 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, May 20th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts predict that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total value of $317,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 10,332 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $56.81, for a total value of $586,960.92. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $112,370.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total transaction of $317,243.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,209 shares of company stock valued at $6,785,705. Insiders own 10.78% of the company’s stock.

Zoom Video Communications 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.