Clarity Capital Partners LLC Lowers Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Clarity Capital Partners LLC reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 8.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,220 shares of the company’s stock after selling 565 shares during the period. Clarity Capital Partners LLC’s holdings in Zoom Video Communications were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Zoom Video Communications by 128.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,038 shares of the company’s stock valued at $722,000 after purchasing an additional 6,206 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Zoom Video Communications by 181.4% in the first quarter. Private Advisor Group LLC now owns 13,503 shares of the company’s stock valued at $883,000 after buying an additional 8,704 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Zoom Video Communications by 7.1% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,825 shares of the company’s stock worth $512,000 after acquiring an additional 522 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in Zoom Video Communications by 4.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 72,426 shares of the company’s stock worth $4,734,000 after acquiring an additional 3,385 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Zoom Video Communications in the first quarter valued at $1,486,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $75.54 on Tuesday. The firm has a market capitalization of $23.25 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 6.52 and a beta of -0.05. The stock has a fifty day moving average of $69.71 and a two-hundred day moving average of $63.56. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $76.03.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZM. Wells Fargo & Company upped their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, October 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Benchmark boosted their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wedbush assumed coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price target on the stock. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.32.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction that occurred 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 is available at this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total value of $165,479.60. Following the sale, the chief executive officer now owns 85,514 shares of the company’s stock, valued at $5,847,447.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was 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. Insiders have sold a total of 198,557 shares of company stock valued at $13,645,167 in the last three months. 10.78% of the stock is currently owned by company insiders.

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.