Janney Montgomery Scott LLC Has $731,000 Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Janney Montgomery Scott LLC lifted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,540 shares of the company’s stock after purchasing an additional 690 shares during the period. Janney Montgomery Scott LLC’s holdings in Zoom Video Communications were worth $731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GHP Investment Advisors Inc. acquired a new position in Zoom Video Communications in the 1st quarter valued at about $29,000. Nauset Wealth Management. LLC bought a new stake in Zoom Video Communications in the 1st quarter valued at about $30,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. PrairieView Partners LLC boosted its holdings in Zoom Video Communications by 49.8% in the 1st quarter. PrairieView Partners LLC now owns 301 shares of the company’s stock valued at $35,000 after purchasing an additional 100 shares during the period. Finally, Covestor Ltd boosted its holdings in Zoom Video Communications by 76.7% in the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 52.86% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the subject of a number of recent research reports. Evercore ISI cut their price objective on shares of Zoom Video Communications to $95.00 in a report on Tuesday, August 23rd. Sanford C. Bernstein initiated coverage on shares of Zoom Video Communications in a report on Tuesday, July 19th. They set a “market perform” rating and a $122.00 price target for the company. Morgan Stanley downgraded shares of Zoom Video Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $130.00 to $90.00 in a report on Tuesday, October 11th. Mizuho cut their price target on shares of Zoom Video Communications from $190.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 23rd. Finally, Wells Fargo & Company cut their price target on shares of Zoom Video Communications from $105.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, August 23rd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $126.61.

Zoom Video Communications Trading Down 8.3 %

Zoom Video Communications stock opened at $71.84 on Thursday. Zoom Video Communications, Inc. has a 1-year low of $70.43 and a 1-year high of $268.88. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 3.05 and a beta of -0.29. The firm’s fifty day moving average price is $78.22 and its two-hundred day moving average price is $94.87.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings data on Monday, August 22nd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.17). Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that Zoom Video Communications, Inc. will post 1.3 EPS for the current year.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 2,374 shares of the firm’s stock in a transaction dated Saturday, October 8th. The shares were sold at an average price of $71.59, for a total transaction of $169,954.66. Following the completion of the sale, the insider now owns 15,869 shares in the company, valued at $1,136,061.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Velchamy Sankarlingam sold 2,374 shares of the firm’s stock in a transaction dated Saturday, October 8th. The shares were sold at an average price of $71.59, for a total transaction of $169,954.66. Following the completion of the sale, the insider now owns 15,869 shares in the company, valued at $1,136,061.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 2,404 shares of Zoom Video Communications stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $109.14, for a total transaction of $262,372.56. Following the completion of the transaction, the chief operating officer now owns 70,531 shares of the company’s stock, valued at approximately $7,697,753.34. The disclosure for this sale can be found here. 11.24% of the stock is owned by insiders.

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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