Galvin Gaustad & Stein LLC Sells 5,695 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Galvin Gaustad & Stein LLC reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 309,975 shares of the company’s stock after selling 5,695 shares during the quarter. Zoom Video Communications comprises 1.9% of Galvin Gaustad & Stein LLC’s investment portfolio, making the stock its 17th largest holding. Galvin Gaustad & Stein LLC’s holdings in Zoom Video Communications were worth $21,618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after buying an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares in the last quarter. International Assets Investment Management LLC grew its position in Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock worth $34,868,000 after purchasing an additional 492,520 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Zoom Video Communications by 297.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company’s stock valued at $41,815,000 after purchasing an additional 478,769 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 1.6 %

ZM stock opened at $81.46 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $81.57. The firm has a market cap of $25.07 billion, a P/E ratio of 29.20, a PEG ratio of 6.87 and a beta of -0.05. The company’s 50-day simple moving average is $70.46 and its 200-day simple moving average is $64.07.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $0.55 EPS. Zoom Video Communications’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 880 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now directly owns 2,809 shares in the company, valued at $191,264.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Aparna Bawa sold 880 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares in the company, valued at $6,285,780. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 372,121 shares of company stock valued at $27,095,467 over the last ninety days. Insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ZM shares. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Wedbush began coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target on the stock. Robert W. Baird cut their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Bank of America decreased their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, Stifel Nicolaus increased their price target on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.32.

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.