Larson Financial Group LLC Has $31,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Larson Financial Group LLC decreased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 73.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 521 shares of the company’s stock after selling 1,419 shares during the period. Larson Financial Group LLC’s holdings in Zoom Video Communications were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in shares of Zoom Video Communications during the 4th quarter valued at about $25,000. Quadrant Capital Group LLC lifted its stake in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after buying an additional 267 shares during the period. Frazier Financial Advisors LLC bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $32,000. Innealta Capital LLC bought a new position in shares of Zoom Video Communications during the 2nd quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $36,000. 66.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZM. Stifel Nicolaus cut their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research note on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Evercore ISI decreased their target price on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, May 21st. Benchmark reiterated a “buy” rating and issued a $83.00 price target on shares of Zoom Video Communications in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.10.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $66.59 on Tuesday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.77. The company has a market cap of $20.59 billion, a P/E ratio of 24.85, a P/E/G ratio of 5.90 and a beta of -0.05. The firm has a 50-day moving average of $61.00 and a 200-day moving average of $62.29.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts expect that Zoom Video Communications, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 11,060 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $632,079.00. Following the completion of the transaction, the chief operating officer now owns 12,310 shares in the company, valued at approximately $703,516.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total value of $609,184.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 11,060 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total value of $632,079.00. Following the completion of the transaction, the chief operating officer now owns 12,310 shares in the company, valued at approximately $703,516.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,389 shares of company stock valued at $6,999,209. 10.78% of the stock is owned by insiders.

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.