Zoom Video Communications, Inc. (NASDAQ:ZM) is Avory & Company LLC’s 4th Largest Position

Avory & Company LLC boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 236,831 shares of the company’s stock after purchasing an additional 9,940 shares during the period. Zoom Video Communications makes up 11.9% of Avory & Company LLC’s investment portfolio, making the stock its 4th largest holding. Avory & Company LLC owned about 0.08% of Zoom Video Communications worth $17,031,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pearl River Capital LLC lifted its stake 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 period. California Public Employees Retirement System increased its stake in 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 purchasing an additional 14,945 shares in the last quarter. CIBC Asset Management Inc increased its stake in 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 purchasing an additional 5,826 shares in the last quarter. Vanguard Group Inc. raised its holdings in Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after purchasing an additional 1,000,005 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC grew its stake in 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. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Trading Down 3.5 %

Shares of ZM stock traded down $2.24 on Tuesday, hitting $61.08. The stock had a trading volume of 1,263,756 shares, compared to its average volume of 3,286,865. The firm has a market cap of $18.79 billion, a P/E ratio of 31.04 and a beta of -0.07. The company has a fifty day moving average price of $64.59 and a two-hundred day moving average price of $65.78. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,734.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Aparna Bawa sold 816 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at $131,734.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction that occurred on 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 $5,896,777.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,224 shares of company stock valued at $5,872,091. Company insiders own 11.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Rosenblatt Securities raised shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, April 18th. Piper Sandler increased their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Wedbush reissued a “neutral” rating and set a $80.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 27th. BNP Paribas downgraded Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a report on Thursday, January 18th. Finally, Jefferies Financial Group started coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications Company 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.