Newbridge Financial Services Group Inc. Makes New $150,000 Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Newbridge Financial Services Group Inc. purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,079 shares of the company’s stock, valued at approximately $150,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZM. Pathstone Family Office LLC acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at $422,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Zoom Video Communications by 11.8% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,331 shares of the company’s stock valued at $443,000 after buying an additional 670 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Zoom Video Communications by 88.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,899 shares of the company’s stock valued at $552,000 after buying an additional 3,710 shares in the last quarter. Korea Investment CORP raised its position in Zoom Video Communications by 71.8% in the 3rd quarter. Korea Investment CORP now owns 229,347 shares of the company’s stock valued at $16,041,000 after purchasing an additional 95,844 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in Zoom Video Communications in the 3rd quarter valued at $713,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $61.43, for a total value of $307,580.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Aparna Bawa sold 21,968 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at $119,036.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $61.43, for a total transaction of $307,580.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,193 shares of company stock worth $6,427,858. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $56.21 on Wednesday. The firm has a market cap of $17.38 billion, a P/E ratio of 20.97, a PEG ratio of 8.74 and a beta of -0.01. Zoom Video Communications, Inc. has a 1-year low of $56.09 and a 1-year high of $75.90. The firm’s 50-day simple moving average is $61.61 and its 200-day simple moving average is $65.46.

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

Analyst Ratings Changes

Several research firms recently commented on ZM. Mizuho reduced their price target on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Morgan Stanley cut their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 27th. JPMorgan Chase & Co. cut their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Robert W. Baird cut their price objective on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.72.

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.