Wealth Enhancement Advisory Services LLC Acquires 63,181 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Wealth Enhancement Advisory Services LLC raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 558.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,492 shares of the company’s stock after purchasing an additional 63,181 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Zoom Video Communications were worth $5,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ZM. Allworth Financial LP raised its stake in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the period. Axiom Advisory LLC grew its holdings in Zoom Video Communications by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock valued at $817,000 after buying an additional 183 shares in the last quarter. Baader Bank Aktiengesellschaft increased its position in shares of Zoom Video Communications by 0.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after buying an additional 189 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after buying an additional 223 shares in the last quarter. Finally, Excalibur Management Corp boosted its position in shares of Zoom Video Communications by 5.6% in the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock valued at $257,000 after acquiring an additional 232 shares during the period. Institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $56.12, for a total value of $135,810.40. Following the transaction, the chief executive officer now owns 90,354 shares in the company, valued at approximately $5,070,666.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares in the company, valued at $191,264.81. 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 is available through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications 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 completion of the sale, the chief executive officer now owns 90,354 shares in the company, valued at approximately $5,070,666.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,477 shares of company stock worth $12,842,978. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 1.0 %

Zoom Video Communications stock opened at $74.78 on Thursday. The firm has a fifty day simple moving average of $69.39 and a two-hundred day simple moving average of $63.21. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $75.96. The company has a market capitalization of $23.02 billion, a PE ratio of 27.90, a P/E/G ratio of 6.26 and a beta of -0.04.

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 return on equity of 10.77% and a net margin of 19.08%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $0.55 EPS. Zoom Video Communications’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ZM shares. Stifel Nicolaus upped their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Bank of America dropped their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $75.32.

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.