Commonwealth Equity Services LLC Raises Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Commonwealth Equity Services LLC lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 47.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,171 shares of the company’s stock after purchasing an additional 14,170 shares during the period. Commonwealth Equity Services LLC’s holdings in Zoom Video Communications were worth $2,887,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in Zoom Video Communications by 35.8% in the first quarter. Principal Financial Group Inc. now owns 21,785 shares of the company’s stock worth $1,424,000 after purchasing an additional 5,742 shares in the last quarter. Harrington Investments INC grew its position in shares of Zoom Video Communications by 6.4% in the 1st quarter. Harrington Investments INC now owns 15,920 shares of the company’s stock worth $1,041,000 after buying an additional 958 shares during the period. Yousif Capital Management LLC increased its stake in shares of Zoom Video Communications by 10.0% in the 1st quarter. Yousif Capital Management LLC now owns 3,326 shares of the company’s stock worth $217,000 after acquiring an additional 303 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Zoom Video Communications during the 1st quarter valued at about $1,521,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Zoom Video Communications by 95.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 163,384 shares of the company’s stock worth $10,680,000 after acquiring an additional 79,974 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the topic of a number of recent research reports. Rosenblatt Securities increased their target price on Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Citigroup raised their price objective 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. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price on the stock. Evercore ISI cut their price target on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, May 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.44.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total value of $288,353.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Shane Crehan sold 5,099 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.97, for a total transaction of $321,084.03. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $57.59, for a total value of $288,353.13. The disclosure for this sale can be found here. Insiders sold 103,093 shares of company stock worth $6,326,899 in the last quarter. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Down 0.1 %

ZM stock traded down $0.03 during trading on Friday, reaching $58.60. The company’s stock had a trading volume of 761,815 shares, compared to its average volume of 3,308,978. The company’s fifty day moving average is $61.02 and its 200-day moving average is $64.47. The company has a market capitalization of $18.12 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 9.00 and a beta of -0.05. 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 posted its quarterly earnings results on Monday, May 20th. The company reported $0.74 EPS for the quarter, topping 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 analysts’ expectations of $1.13 billion. Analysts anticipate that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current 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.