Diversified Trust Co Buys 7,685 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Diversified Trust Co increased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 21.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,107 shares of the company’s stock after purchasing an additional 7,685 shares during the quarter. Diversified Trust Co’s holdings in Zoom Video Communications were worth $2,611,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Voisard Asset Management Group Inc. bought a new position in shares of Zoom Video Communications in the 2nd quarter valued at $118,000. Caas Capital Management LP bought a new position in Zoom Video Communications in the second quarter valued at about $1,179,000. CWM LLC raised its stake in Zoom Video Communications by 6.0% during the second quarter. CWM LLC now owns 8,304 shares of the company’s stock worth $492,000 after acquiring an additional 471 shares in the last quarter. Versant Capital Management Inc raised its stake in Zoom Video Communications by 1,257.7% during the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after acquiring an additional 893 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Zoom Video Communications in the second quarter worth about $36,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities upped their price objective on shares of Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Benchmark reaffirmed a “buy” rating and set a $83.00 target price on shares of Zoom Video Communications in a research note on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, May 21st. UBS Group upgraded Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Finally, Sanford C. Bernstein lowered their target price on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, twelve have issued 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 an average target price of $75.22.

Zoom Video Communications Stock Down 0.5 %

Zoom Video Communications stock traded down $0.27 during mid-day trading on Wednesday, hitting $56.38. 179,282 shares of the stock were exchanged, compared to its average volume of 3,186,580. The firm’s fifty day simple moving average is $58.53 and its two-hundred day simple moving average is $62.05. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $75.90. The stock has a market capitalization of $17.44 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 8.65 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $56.64, for a total value of $283,596.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Velchamy Sankarlingam sold 3,589 shares of the company’s stock in a transaction dated Sunday, June 9th. The shares were sold at an average price of $62.42, for a total value of $224,025.38. Following the sale, the insider now owns 81,287 shares in the company, valued at approximately $5,073,934.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $56.64, for a total transaction of $283,596.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,629 shares of company stock worth $6,887,868. Corporate insiders own 10.78% of the company’s stock.

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.