Kestra Private Wealth Services LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Kestra Private Wealth Services LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, Holdings Channel reports. The institutional investor bought 10,947 shares of the company’s stock, valued at approximately $787,000.

Several other institutional investors and hedge funds have also bought and sold shares of ZM. Pearl River Capital LLC grew its position in shares of Zoom Video Communications by 31.6% in the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after purchasing an additional 8,928 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Zoom Video Communications by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock valued at $32,231,000 after acquiring an additional 14,945 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Zoom Video Communications by 15.9% in the 3rd quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,826 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after acquiring an additional 1,000,005 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC lifted its stake in shares of Zoom Video Communications by 25.4% in the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after acquiring an additional 66,433 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZM. Mizuho dropped their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price target on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a research note on Thursday, January 18th. Jefferies Financial Group initiated coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price for the company. Finally, Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Trading Down 1.6 %

Shares of Zoom Video Communications stock opened at $61.82 on Friday. The business has a 50-day moving average price of $64.58 and a two-hundred day moving average price of $65.71. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90. The company has a market cap of $19.01 billion, a P/E ratio of 30.30 and a beta of -0.05.

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

Insider Activity

In other news, CEO Eric S. Yuan sold 2,421 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the completion of the sale, the chief executive officer now directly owns 90,001 shares in the company, valued at approximately $5,732,163.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Eric S. Yuan sold 2,421 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the completion of the sale, the chief executive officer now directly owns 90,001 shares in the company, valued at approximately $5,732,163.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Santiago Subotovsky sold 2,067 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $65.88, for a total value of $136,173.96. Following the completion of the sale, the director now owns 157,626 shares of the company’s stock, valued at $10,384,400.88. The disclosure for this sale can be found here. Insiders sold a total of 98,231 shares of company stock worth $6,179,621 in the last three months. Company insiders own 11.28% of the company’s stock.

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.