Accurate Wealth Management LLC Buys 11,589 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Accurate Wealth Management LLC raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 40.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,969 shares of the company's stock after acquiring an additional 11,589 shares during the quarter. Accurate Wealth Management LLC's holdings in Zoom Video Communications were worth $2,851,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after acquiring an additional 258 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Zoom Video Communications in the fourth quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Zoom Video Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after buying an additional 246 shares during the last quarter. Colonial Trust Co SC bought a new position in shares of Zoom Video Communications in the fourth quarter valued at about $32,000. Finally, MRP Capital Investments LLC raised its holdings in shares of Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Benchmark reaffirmed a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on Zoom Video Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Stifel Nicolaus cut their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. UBS Group cut their price target on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Finally, Bank of America lifted their price target on Zoom Video Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $87.00.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded down $0.78 during trading on Friday, hitting $76.63. 2,266,932 shares of the company were exchanged, compared to its average volume of 2,945,492. The firm has a market capitalization of $23.18 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm's fifty day moving average price is $77.44 and its 200 day moving average price is $79.51.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (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 analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $1.35 EPS. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 41,121 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at $143,583.02. The trade was a 89.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 94,054 shares of company stock worth $6,877,613. 11.51% of the stock is owned by company insiders.

Zoom Video Communications 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.