Janney Montgomery Scott LLC Increases Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Janney Montgomery Scott LLC grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,595 shares of the company’s stock after buying an additional 2,800 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Zoom Video Communications were worth $1,297,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its position in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Axiom Advisory LLC raised its stake in shares of Zoom Video Communications by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock valued at $817,000 after acquiring an additional 183 shares during the period. Baader Bank Aktiengesellschaft lifted its stake 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 worth $1,370,000 after purchasing an additional 189 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Zoom Video Communications by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after acquiring an additional 223 shares in the last quarter. Finally, Excalibur Management Corp lifted its position in shares of Zoom Video Communications by 5.6% during the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

ZM stock opened at $82.63 on Friday. The firm has a 50 day simple moving average of $71.48 and a 200 day simple moving average of $64.59. The stock has a market cap of $25.43 billion, a P/E ratio of 29.62, a P/E/G ratio of 7.44 and a beta of -0.05. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company earned $0.55 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 880 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at $191,264.81. This represents a 23.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold 372,121 shares of company stock valued at $27,095,467 over the last quarter. Insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ZM. Wells Fargo & Company increased their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. UBS Group upgraded Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Rosenblatt Securities restated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, October 4th. Wedbush initiated coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.26.

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.