Walleye Capital LLC Invests $307,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Walleye Capital LLC acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,840 shares of the company’s stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZM. Signature Wealth Management Partners LLC raised its stake in shares of Zoom Video Communications by 4.5% during the second quarter. Signature Wealth Management Partners LLC now owns 2,426 shares of the company’s stock worth $262,000 after acquiring an additional 105 shares in the last quarter. Ieq Capital LLC raised its position in Zoom Video Communications by 0.4% in the 2nd quarter. Ieq Capital LLC now owns 27,254 shares of the company’s stock worth $2,943,000 after purchasing an additional 109 shares during the period. Global Wealth Management Investment Advisory Inc. raised its position 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 worth $34,000 after purchasing an additional 114 shares during the period. Brinker Capital Investments LLC lifted its stake in Zoom Video Communications by 5.2% in the second quarter. Brinker Capital Investments LLC now owns 2,421 shares of the company’s stock worth $261,000 after purchasing an additional 120 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in Zoom Video Communications by 2.6% during the second quarter. Banque Cantonale Vaudoise now owns 4,705 shares of the company’s stock valued at $508,000 after buying an additional 120 shares during the period. 52.86% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $82.59 on Friday. Zoom Video Communications, Inc. has a 12 month low of $70.43 and a 12 month high of $265.23. The firm has a market capitalization of $24.58 billion, a P/E ratio of 25.57, a P/E/G ratio of 3.26 and a beta of -0.29. The company’s fifty day moving average price is $78.71 and its 200 day moving average price is $94.27.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings results on Monday, August 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.12 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 1.32 EPS for the current year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 2,374 shares of Zoom Video Communications stock in a transaction on Saturday, October 8th. The shares were sold at an average price of $71.59, for a total value of $169,954.66. Following the transaction, the insider now directly owns 15,869 shares in the company, valued at approximately $1,136,061.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 11.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZM shares. BTIG Research lowered Zoom Video Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 23rd. Robert W. Baird lowered their price objective on shares of Zoom Video Communications from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, August 23rd. Mizuho reduced their price target on Zoom Video Communications from $190.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, August 23rd. Benchmark dropped their price objective on Zoom Video Communications from $128.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, August 23rd. Finally, Morgan Stanley cut Zoom Video Communications from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $130.00 to $90.00 in a research note on Tuesday, October 11th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $126.48.

Zoom Video Communications 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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