Peak Retirement Planning Inc. Acquires New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Peak Retirement Planning Inc. purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,772 shares of the company's stock, valued at approximately $961,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Adero Partners LLC grew its position in Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock worth $450,000 after acquiring an additional 129 shares during the last quarter. Principal Securities Inc. grew its position in shares of Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock worth $64,000 after buying an additional 166 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after buying an additional 168 shares during the last quarter. Global X Japan Co. Ltd. grew its position in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after buying an additional 190 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of Zoom Video Communications by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company's stock worth $3,303,000 after buying an additional 215 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Rosenblatt Securities lifted their price objective on Zoom Video Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Stifel Nicolaus lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Finally, Mizuho lowered their target price on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Fifteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $87.61.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.77 during trading hours on Wednesday, hitting $79.67. The company's stock had a trading volume of 2,479,499 shares, compared to its average volume of 2,981,960. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company's 50 day simple moving average is $76.12 and its two-hundred day simple moving average is $79.74. The company has a market cap of $24.32 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $1.35 EPS. Zoom Video Communications's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts predict that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,515 shares of company stock worth $12,132,994. 11.51% of the stock is owned by corporate insiders.

Zoom Video Communications Company Profile

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.