Perigon Wealth Management LLC Takes $329,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Perigon Wealth Management LLC acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,579 shares of the company’s stock, valued at approximately $329,000.

A number of other hedge funds have also recently modified their holdings of the business. Helios Capital Management PTE. Ltd. bought a new stake in shares of Zoom Video Communications during the 4th quarter valued at $424,000. Cerity Partners LLC grew its position in shares of Zoom Video Communications by 3.2% during the 4th quarter. Cerity Partners LLC now owns 16,074 shares of the company’s stock valued at $1,156,000 after acquiring an additional 492 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Zoom Video Communications by 556.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company’s stock valued at $8,923,000 after acquiring an additional 105,173 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Zoom Video Communications by 353.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 32,017 shares of the company’s stock valued at $2,302,000 after acquiring an additional 24,953 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Zoom Video Communications by 60.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 74,118 shares of the company’s stock valued at $5,381,000 after acquiring an additional 28,062 shares during the period. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 1.6 %

ZM opened at $59.28 on Wednesday. The firm has a 50-day simple moving average of $65.12 and a two-hundred day simple moving average of $66.12. Zoom Video Communications, Inc. has a 52 week low of $58.87 and a 52 week high of $75.90. The company has a market capitalization of $18.23 billion, a PE ratio of 29.06 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Insider Activity at Zoom Video Communications

In related news, COO Aparna Bawa sold 19,207 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $67.00, for a total value of $1,286,869.00. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $132,526. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the sale, the chief executive officer now directly owns 95,140 shares of the company’s stock, valued at approximately $5,896,777.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 19,207 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $67.00, for a total transaction of $1,286,869.00. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $132,526. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,456 shares of company stock valued at $5,539,710. Insiders own 11.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ZM shares. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, March 26th. Mizuho lowered their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Wells Fargo & Company cut shares of Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 target price on the stock. in a research note on Wednesday, December 20th. Finally, BNP Paribas cut shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.56.

About Zoom Video Communications

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.