MBB Public Markets I LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

MBB Public Markets I LLC acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,088 shares of the company’s stock, valued at approximately $1,011,000.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Zoom Video Communications during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications during the 2nd quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications during the 2nd quarter worth about $41,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 893 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Zoom Video Communications by 69.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after acquiring an additional 692 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ZM. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Thursday, August 22nd. Wells Fargo & Company raised their price target on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Finally, Robert W. Baird lowered their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.68.

Zoom Video Communications Price Performance

ZM opened at $69.74 on Tuesday. The stock’s 50 day simple moving average is $63.95 and its 200 day simple moving average is $62.29. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 5.99 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company earned $0.55 EPS. Zoom Video Communications’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,121.62. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Eric S. Yuan sold 37,810 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $57.14, for a total value of $2,160,463.40. Following the sale, the chief executive officer now directly owns 113,684 shares in the company, valued at approximately $6,495,903.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,908 shares of company stock worth $7,373,459. 10.78% of the stock is currently owned by insiders.

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.