Americana Partners LLC Purchases 988 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Americana Partners LLC boosted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 28.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,483 shares of the company’s stock after purchasing an additional 988 shares during the quarter. Americana Partners LLC’s holdings in Zoom Video Communications were worth $313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Zoom Video Communications during the second quarter worth approximately $33,000. Allworth Financial LP increased its stake in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications in the 2nd quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications during the 2nd quarter valued at $41,000. Finally, Versant Capital Management Inc grew its holdings in shares of Zoom Video Communications by 1,257.7% during the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after purchasing an additional 893 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the transaction, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at approximately $7,798,056.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Aparna Bawa sold 831 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,121.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the completion of the sale, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at approximately $7,798,056.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,977 shares of company stock worth $13,780,978 over the last three months. 10.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ZM shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday, October 10th. Wedbush began coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Robert W. Baird cut their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Piper Sandler decreased their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average target price of $75.32.

Zoom Video Communications Stock Up 1.2 %

Shares of NASDAQ:ZM opened at $75.60 on Friday. The firm has a market cap of $23.27 billion, a P/E ratio of 27.10, a P/E/G ratio of 6.44 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $76.03. The business has a fifty day simple moving average of $69.63 and a 200 day simple moving average of $63.42.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. As a group, equities research analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

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.