Farther Finance Advisors LLC Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Farther Finance Advisors LLC lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 20.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,085 shares of the company’s stock after purchasing an additional 526 shares during the quarter. Farther Finance Advisors LLC’s holdings in Zoom Video Communications were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Zoom Video Communications in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications during the 2nd quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zoom Video Communications during the second quarter valued at $41,000. Allworth Financial LP boosted its holdings in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the period. Finally, 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 purchasing an additional 893 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 880 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 2,809 shares of the company’s stock, valued at $191,264.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,121 shares of company stock valued at $27,095,467 in the last quarter. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 1.6 %

Shares of Zoom Video Communications stock opened at $81.46 on Friday. The stock has a fifty day simple moving average of $70.46 and a 200 day simple moving average of $64.07. The company has a market capitalization of $25.07 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 6.87 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $81.57.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm 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 company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft increased their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.32.

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.