Janney Montgomery Scott LLC Has $804,000 Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Janney Montgomery Scott LLC increased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 67.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,926 shares of the company’s stock after acquiring an additional 4,386 shares during the period. Janney Montgomery Scott LLC’s holdings in Zoom Video Communications were worth $804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ronald Blue Trust Inc. acquired a new stake in shares of Zoom Video Communications during the second quarter worth $27,000. SeaCrest Wealth Management LLC bought a new position in Zoom Video Communications in the second quarter valued at $26,000. Global Wealth Management Investment Advisory Inc. grew its position 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 valued at $34,000 after purchasing an additional 114 shares in the last quarter. Wagner Wealth Management LLC bought a new position in Zoom Video Communications in the second quarter valued at $32,000. Finally, Neo Ivy Capital Management grew its position in Zoom Video Communications by 56.8% in the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. 52.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ZM shares. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $125.00 to $100.00 in a research report on Friday, November 18th. Evercore ISI decreased their target price on shares of Zoom Video Communications from $95.00 to $85.00 in a research report on Tuesday, November 22nd. JPMorgan Chase & Co. downgraded shares of Zoom Video Communications from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $295.00 to $85.00 in a research report on Friday, October 7th. Piper Sandler decreased their price objective on shares of Zoom Video Communications from $77.00 to $75.00 in a research report on Tuesday. Finally, MKM Partners decreased their price objective on shares of Zoom Video Communications from $125.00 to $100.00 in a research report on Wednesday, November 9th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $104.62.

Insider Activity

In other news, CFO Kelly Steckelberg sold 3,224 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $65.18, for a total value of $210,140.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Gregory Tomb sold 3,752 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $71.85, for a total transaction of $269,581.20. Following the completion of the transaction, the president now directly owns 27,520 shares in the company, valued at approximately $1,977,312. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $65.18, for a total transaction of $210,140.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,218 shares of company stock worth $1,490,951. 11.24% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Down 1.0 %

Shares of Zoom Video Communications stock opened at $66.84 on Friday. Zoom Video Communications, Inc. has a twelve month low of $63.55 and a twelve month high of $163.48. The company has a 50-day simple moving average of $72.30 and a two-hundred day simple moving average of $83.77. The stock has a market capitalization of $19.89 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 2.79 and a beta of -0.26.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a return on equity of 8.86% and a net margin of 16.07%. Zoom Video Communications’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 1.28 earnings per share for the current fiscal year.

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.