Wedmont Private Capital Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Wedmont Private Capital bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,979 shares of the company’s stock, valued at approximately $203,000.

Several other large investors have also modified their holdings of the stock. Innealta Capital LLC purchased a new position in Zoom Video Communications during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications during the second quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Zoom Video Communications during the second quarter worth approximately $41,000. Versant Capital Management Inc increased 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 during the period. Finally, EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 692 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 0.2 %

ZM stock opened at $70.68 on Monday. The company has a market cap of $21.86 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 6.11 and a beta of -0.04. The firm has a 50 day moving average of $65.62 and a 200-day moving average of $62.45. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77.

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

Wall Street Analyst Weigh In

A number of research firms have commented on ZM. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Stifel Nicolaus upped their price target on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Robert W. Baird lowered their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.05.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 10,338 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total transaction of $718,594.38. Following the completion of the transaction, the insider now directly owns 104,414 shares in the company, valued at $7,257,817.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the sale, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at $97,830.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 10,338 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $69.51, for a total transaction of $718,594.38. Following the completion of the transaction, the insider now directly owns 104,414 shares of the company’s stock, valued at approximately $7,257,817.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 145,074 shares of company stock worth $9,595,146. 10.78% of the stock is owned by corporate insiders.

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.