Venturi Wealth Management LLC Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Venturi Wealth Management LLC increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 56.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 763 shares of the company’s stock after buying an additional 274 shares during the period. Venturi Wealth Management LLC’s holdings in Zoom Video Communications were worth $53,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Innealta Capital LLC bought a new stake in shares of Zoom Video Communications during the second quarter valued at about $33,000. Allworth Financial LP increased its holdings in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications in the 2nd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Zoom Video Communications during the 2nd quarter valued at $41,000. Finally, Versant Capital Management Inc increased its holdings in shares of Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after purchasing an additional 893 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Down 1.8 %

Shares of NASDAQ ZM opened at $81.14 on Friday. The firm’s fifty day moving average is $71.79 and its 200 day moving average is $64.72. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $87.15. The company has a market cap of $24.97 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 7.33 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released 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 firm had revenue of $1.16 billion for 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 company’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 earned $0.55 earnings per share. Equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group upgraded Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, October 4th. Robert W. Baird lowered their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Stifel Nicolaus boosted their price target on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $76.26.

Insider Buying and Selling at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the transaction, the chief accounting officer now owns 1,463 shares in the company, valued at $97,830.81. This trade represents a 51.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 372,121 shares of company stock valued at $27,095,467. 10.78% of the stock is currently owned by company 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.