Courier Capital LLC Purchases New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Courier Capital LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the third quarter, HoldingsChannel reports. The institutional investor bought 3,596 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Axiom Advisory LLC grew its position in shares of Zoom Video Communications by 1.6% in the third quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock valued at $817,000 after purchasing an additional 183 shares during the last quarter. Baader Bank Aktiengesellschaft grew its stake in shares of Zoom Video Communications by 0.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after acquiring an additional 189 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Zoom Video Communications by 1.7% during the second 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 during the period. Excalibur Management Corp lifted its position in shares of Zoom Video Communications by 5.6% during the 2nd 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. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Zoom Video Communications by 2.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock valued at $669,000 after purchasing an additional 273 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 0.2 %

Shares of ZM opened at $72.66 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77. The company has a market cap of $22.36 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 6.22 and a beta of -0.04. The stock has a 50-day moving average price of $67.90 and a 200-day moving average price of $62.81.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on ZM shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Piper Sandler reduced their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. 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. Bank of America cut their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Finally, 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 report on Thursday, August 22nd. Two equities research 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.32.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 35,722 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the sale, the chief executive officer now owns 57,371 shares in the company, valued at approximately $4,099,157.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the sale, the chief executive officer now directly owns 114,341 shares in the company, valued at $7,798,056.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 35,722 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the sale, the chief executive officer now owns 57,371 shares of the company’s stock, valued at approximately $4,099,157.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,477 shares of company stock worth $12,842,978. Company insiders own 10.78% of the company’s stock.

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.