Asset Management Resources LLC Grows Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Asset Management Resources LLC raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,070 shares of the company’s stock after acquiring an additional 231 shares during the quarter. Asset Management Resources LLC’s holdings in Zoom Video Communications were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth $26,000. GHP Investment Advisors Inc. acquired a new stake in Zoom Video Communications during the 1st quarter worth about $29,000. Nauset Wealth Management. LLC acquired a new stake in Zoom Video Communications during the 1st quarter worth about $30,000. Private Capital Group LLC lifted its position in Zoom Video Communications by 242.1% during the 1st quarter. Private Capital Group LLC now owns 260 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. lifted its position in Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Institutional investors own 52.86% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of several recent analyst reports. Royal Bank of Canada cut their price target on Zoom Video Communications from $150.00 to $130.00 in a research note on Tuesday, August 23rd. Morgan Stanley lowered their target price on Zoom Video Communications from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, August 23rd. Piper Sandler lowered their target price on Zoom Video Communications from $115.00 to $91.00 and set a “neutral” rating on the stock in a report on Tuesday, August 23rd. Sanford C. Bernstein initiated coverage on Zoom Video Communications in a report on Tuesday, July 19th. They issued a “market perform” rating and a $122.00 price objective on the stock. Finally, MKM Partners decreased their price objective on Zoom Video Communications from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $136.03.

Zoom Video Communications Stock Down 1.2 %

NASDAQ ZM traded down $0.90 during midday trading on Friday, hitting $73.64. The company had a trading volume of 115,233 shares, compared to its average volume of 4,328,349. The firm has a fifty day simple moving average of $94.49 and a two-hundred day simple moving average of $103.06. The stock has a market cap of $21.92 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 4.18 and a beta of -0.49. Zoom Video Communications, Inc. has a fifty-two week low of $74.33 and a fifty-two week high of $291.31.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its earnings results on Monday, August 22nd. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 1.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Velchamy Sankarlingam sold 2,319 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $109.79, for a total value of $254,603.01. Following the transaction, the insider now directly owns 10,863 shares in the company, valued at $1,192,648.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Velchamy Sankarlingam sold 2,319 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $109.79, for a total value of $254,603.01. Following the completion of the transaction, the insider now owns 10,863 shares in the company, valued at approximately $1,192,648.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Aparna Bawa sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $116.62, for a total transaction of $233,240.00. Following the transaction, the chief operating officer now owns 77,676 shares of the company’s stock, valued at approximately $9,058,575.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,823 shares of company stock valued at $3,526,086. 11.24% of the stock is currently owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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