Zoom Video Communications, Inc. Shares (NASDAQ:ZM) acquired by Oak Thistle LLC

Oak Thistle LLC raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) by 93.1% during the second quarter, Holdings Channel.com reports. The firm owned 8,084 shares of the company’s stock after purchasing an additional 3,897 shares during the period. Oak Thistle LLC’s holdings in Zoom Video Communications were worth $478,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Principal Securities Inc. purchased a new position in shares of Zoom Video Communications in the 4th quarter valued at $25,000. Quadrant Capital Group LLC raised its position in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after buying an additional 267 shares during the period. Frazier Financial Advisors LLC purchased a new position in Zoom Video Communications in the fourth quarter valued at about $32,000. Inçalta Capital LLC purchased a new position in Zoom Video Communications in the second quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Zoom Video Communications in the second quarter valued at about $36,000. Institutional investors and hedge funds own 66.54% of the company’s shares.

The Wall Street analyst weighs in

Several brokerages have recently weighed in on ZM. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Citigroup boosted their price target on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Stifel Nicolaus cut their price target on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday, May 21st. Morgan Stanley cut their price target on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Finally, Bank of America cut their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd . Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.10.

See the latest stock analysis on ZM

Insider buying and selling

In related news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $61.43, for a total transaction of $307,580.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the transaction, the chief executive officer now owns 90,354 shares of the company’s stock, valued at $5,070,666.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Also, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $61.43, for a total value of $307,580.01. The disclosure for this sale can be found here. Insiders sold a total of 119,389 shares of company stock worth $6,999,209 in the last quarter. Corporate insiders own 10.78% of the company’s shares.

Zoom video trading down 0.9%

ZM opened at $66.59 on Tuesday. The company’s 50-day moving average is $61.00 and its 200-day moving average is $62.29. The stock has a market cap of $20.50 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 5.90 and a beta of -0.05. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $74.77.

Zoom Video Communications (NASDAQ:ZM – Get Your Free Report ) last released its quarterly 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. The company 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 for the quarter was up 2.1% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.55 per share. As a group, analysts estimate that Zoom Video Communications, Inc. will post 2.69 EPS for the current year.

Zoom Video Communications Company Profile

(Free report)

Zoom Video Communications, Inc provides a unified communications platform in the Americas, Asia Pacific, Europe, Middle East and Africa. The company offers Zoom Meetings that offers HD video, voice, chat and content sharing across mobile devices, desktops, laptops, phones and conference room systems; Zoom Phone, a cloud phone system for businesses; and Zoom Chat allows users to share messages, images, audio files and content across desktop, laptop, tablet and mobile devices.

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Want to see what other hedge funds ZM owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report).

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