Claro Advisors LLC Acquires New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Claro Advisors LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,954 shares of the company’s stock, valued at approximately $276,000.

A number of other institutional investors have also added to or reduced their stakes in ZM. Innealta Capital LLC bought a new position in shares of Zoom Video Communications in the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Zoom Video Communications in the second quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications during the second quarter valued at about $41,000. Allworth Financial LP lifted its stake in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ZM. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Wedbush began coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley increased their target price on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price target on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.26.

Insider Activity

In other news, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at approximately $113,610.56. This trade represents a 89.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the business’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. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 in the last quarter. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $77.75 on Wednesday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $87.15. The stock has a market capitalization of $23.93 billion, a P/E ratio of 27.87, a P/E/G ratio of 6.93 and a beta of -0.05. The company’s 50-day moving average is $72.54 and its 200 day moving average is $65.12.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts anticipate that Zoom Video Communications, Inc. will post 2.77 earnings per share for the current year.

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.