Selz Capital LLC purchased a new position in Zoom Video Communications Inc (NASDAQ:ZM) during the fourth quarter, HoldingsChannel reports. The fund purchased 26,000 shares of the company’s stock, valued at approximately $1,769,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. G&S Capital LLC bought a new position in shares of Zoom Video Communications in the 3rd quarter valued at about $28,000. US Bancorp DE purchased a new stake in Zoom Video Communications during the 2nd quarter valued at $30,000. Great West Life Assurance Co. Can purchased a new stake in Zoom Video Communications during the 3rd quarter valued at $33,000. Captrust Financial Advisors bought a new stake in Zoom Video Communications in the second quarter worth $36,000. Finally, Trustcore Financial Services LLC lifted its position in Zoom Video Communications by 80.0% in the third quarter. Trustcore Financial Services LLC now owns 630 shares of the company’s stock worth $48,000 after buying an additional 280 shares during the last quarter. 10.28% of the stock is currently owned by institutional investors.
Several research firms have commented on ZM. Robert W. Baird reaffirmed an “in-line” rating and set a $85.00 price objective (down from $100.00) on shares of Zoom Video Communications in a research note on Friday, December 6th. They noted that the move was a valuation call. Citigroup cut their price objective on shares of Zoom Video Communications from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Stephens initiated coverage on shares of Zoom Video Communications in a research report on Friday, December 6th. They set a “buy” rating and a $95.00 price objective on the stock. ValuEngine cut shares of Zoom Video Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Guggenheim initiated coverage on shares of Zoom Video Communications in a research report on Friday, November 22nd. They set a “buy” rating and a $90.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $80.77.
Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.06. The company had revenue of $166.60 million during the quarter, compared to analysts’ expectations of $156.23 million. The firm’s revenue was up 84.9% on a year-over-year basis. Equities research analysts expect that Zoom Video Communications Inc will post 0.02 earnings per share for the current year.
In other news, CFO Kelly Steckelberg sold 11,067 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $65.60, for a total transaction of $725,995.20. Also, CAO Roy Benhorin sold 100,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $70.05, for a total value of $7,005,000.00. Over the last three months, insiders sold 341,649 shares of company stock valued at $23,677,605.
Zoom Video Communications Profile
Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
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