Wealth Enhancement Advisory Services LLC Has $669,000 Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,311 shares of the company’s stock after acquiring an additional 273 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Zoom Video Communications were worth $669,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ZM. Diversified Trust Co increased its stake in shares of Zoom Video Communications by 21.1% in the 2nd quarter. Diversified Trust Co now owns 44,107 shares of the company’s stock valued at $2,611,000 after acquiring an additional 7,685 shares in the last quarter. Voisard Asset Management Group Inc. bought a new stake in Zoom Video Communications in the second quarter valued at $118,000. Caas Capital Management LP acquired a new position in shares of Zoom Video Communications during the second quarter valued at about $1,179,000. CWM LLC boosted its position in shares of Zoom Video Communications by 6.0% during the 2nd quarter. CWM LLC now owns 8,304 shares of the company’s stock worth $492,000 after purchasing an additional 471 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after buying an additional 893 shares during the period. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ZM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Stifel Nicolaus cut their target price on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Sanford C. Bernstein decreased their price target on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a research note on Tuesday, May 21st. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Finally, Bank of America decreased their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday. Two research 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. According to data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average price target of $75.11.

Insiders Place Their Bets

In related news, 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 value of $283,596.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s 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 can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares in the company, valued at approximately $5,070,666.48. The disclosure for this sale can be found here. Insiders sold 118,629 shares of company stock valued at $6,887,868 over the last ninety days. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $68.04 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $75.90. The company’s 50-day moving average is $58.29 and its 200 day moving average is $61.81. The company has a market capitalization of $21.04 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 8.91 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Zoom Video Communications, Inc. will post 2.43 earnings per share 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.