Global Assets Advisory LLC Buys New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Global Assets Advisory LLC purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,441 shares of the company’s stock, valued at approximately $1,075,000.

Several other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of Zoom Video Communications in the fourth quarter worth about $25,000. Quadrant Capital Group LLC raised its position in Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after buying an additional 267 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Zoom Video Communications during the 4th quarter valued at approximately $32,000. Rakuten Securities Inc. purchased a new stake in shares of Zoom Video Communications in the 4th quarter valued at $43,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Zoom Video Communications in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Sanford C. Bernstein lowered their price target on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a report on Tuesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, May 21st. Jefferies Financial Group started coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Finally, Citigroup boosted their target price on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.44.

Insider Activity at Zoom Video Communications

In related news, COO Aparna Bawa sold 874 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $61.78, for a total value of $53,995.72. Following the completion of the sale, the chief operating officer now owns 2,814 shares of the company’s stock, valued at $173,848.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Aparna Bawa sold 874 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total transaction of $53,995.72. Following the transaction, the chief operating officer now owns 2,814 shares of the company’s stock, valued at approximately $173,848.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 1,100 shares of Zoom Video Communications stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $65.38, for a total transaction of $71,918.00. Following the transaction, the director now directly owns 154,459 shares in the company, valued at $10,098,529.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,193 shares of company stock valued at $6,427,858. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $57.54 on Thursday. The stock’s 50 day simple moving average is $61.27 and its 200-day simple moving average is $65.01. The company has a market cap of $17.80 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 8.87 and a beta of -0.01. Zoom Video Communications, Inc. has a 1-year low of $55.63 and a 1-year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Zoom Video Communications Profile

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.