Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Oak Thistle LLC

Oak Thistle LLC lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 93.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,084 shares of the company’s stock after acquiring an additional 3,897 shares during the period. Oak Thistle LLC’s holdings in Zoom Video Communications were worth $478,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Principal Securities Inc. purchased a new position in shares of Zoom Video Communications in the 4th quarter worth $25,000. Quadrant Capital Group LLC raised its position in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Frazier Financial Advisors LLC purchased a new position in Zoom Video Communications in the fourth quarter valued at about $32,000. Innealta Capital LLC purchased a new position in Zoom Video Communications in the second quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Zoom Video Communications in the second quarter valued at about $36,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZM. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Citigroup raised their target price on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Stifel Nicolaus lowered their target price on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday, May 21st. Morgan Stanley lowered their target price on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Finally, Bank of America lowered their target price 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. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.10.

Insider Buying and Selling

In related news, CFO Kelly Steckelberg sold 5,007 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Monday, August 5th. The stock was 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 of the company’s stock, valued at $5,070,666.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $61.43, for a total value of $307,580.01. The disclosure for this sale can be found here. Insiders have sold a total of 119,389 shares of company stock valued at $6,999,209 over the last quarter. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 0.9 %

ZM opened at $66.59 on Tuesday. The business’s 50 day moving average is $61.00 and its 200-day moving average is $62.29. The stock has a market cap of $20.50 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 5.90 and a beta of -0.05. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly 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. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.69 EPS for the current year.

Zoom Video Communications Company 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.