Kestra Private Wealth Services LLC Acquires 496 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Kestra Private Wealth Services LLC grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 28.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,269 shares of the company’s stock after buying an additional 496 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Zoom Video Communications were worth $266,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Zoom Video Communications during the fourth quarter valued at $26,000. GHP Investment Advisors Inc. purchased a new position in shares of Zoom Video Communications during the 1st quarter worth about $29,000. Nauset Wealth Management. LLC bought a new position in Zoom Video Communications during the 1st quarter valued at about $30,000. Private Capital Group LLC raised its position in Zoom Video Communications by 242.1% in the 1st quarter. Private Capital Group LLC now owns 260 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. lifted its stake in Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 52.86% of the company’s stock.

Analysts Set New Price Targets

ZM has been the topic of a number of recent analyst reports. Benchmark reduced their target price on Zoom Video Communications from $128.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, August 23rd. Citigroup decreased their price objective on shares of Zoom Video Communications from $91.00 to $76.00 and set a “sell” rating for the company in a report on Tuesday, August 23rd. Mizuho dropped their target price on shares of Zoom Video Communications from $190.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 23rd. Sanford C. Bernstein started coverage on shares of Zoom Video Communications in a research note on Tuesday, July 19th. They set a “market perform” rating and a $122.00 price target for the company. Finally, BTIG Research cut Zoom Video Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $139.58.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,319 shares of the stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $109.79, for a total transaction of $254,603.01. Following the completion of the sale, the insider now directly owns 10,863 shares of the company’s stock, valued at approximately $1,192,648.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Velchamy Sankarlingam sold 2,319 shares of the firm’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $109.79, for a total value of $254,603.01. Following the completion of the sale, the insider now owns 10,863 shares in the company, valued at approximately $1,192,648.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $116.62, for a total transaction of $233,240.00. Following the transaction, the chief operating officer now owns 77,676 shares in the company, valued at $9,058,575.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,823 shares of company stock worth $3,526,086. 11.24% of the stock is owned by company insiders.

Zoom Video Communications Stock Performance

Shares of ZM opened at $75.94 on Thursday. Zoom Video Communications, Inc. has a 1 year low of $75.32 and a 1 year high of $291.31. The stock has a market capitalization of $22.60 billion, a PE ratio of 23.51, a PEG ratio of 4.31 and a beta of -0.49. The stock has a 50-day simple moving average of $95.44 and a 200-day simple moving average of $103.48.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its quarterly earnings results on Monday, August 22nd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $0.98 EPS. Zoom Video Communications’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts predict that Zoom Video Communications, Inc. will post 1.3 EPS for the current year.

Zoom Video Communications Company Profile

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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.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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