Fluent Financial LLC Invests $623,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Fluent Financial LLC bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,639 shares of the company's stock, valued at approximately $623,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Global X Japan Co. Ltd. raised its stake in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Zoom Video Communications by 277.4% during the 4th 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 last quarter. Avior Wealth Management LLC raised its stake in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in Zoom Video Communications during the 4th quarter valued at approximately $30,000. Finally, Colonial Trust Co SC purchased a new stake in Zoom Video Communications during the 4th quarter valued at approximately $32,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Needham & Company LLC raised Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a research note on Thursday, May 22nd. Piper Sandler upped their price objective on Zoom Video Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on Zoom Video Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities increased their target price on Zoom Video Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Fifteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $87.61.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the transaction, the insider now directly owns 125,529 shares in the company, valued at $9,026,790.39. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock valued at $12,132,994 over the last three months. 11.51% of the stock is owned by company insiders.

Zoom Video Communications Stock Up 0.5%

Shares of ZM stock traded up $0.38 during mid-day trading on Friday, hitting $80.32. 5,485,271 shares of the company's stock were exchanged, compared to its average volume of 2,988,472. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a 50-day simple moving average of $76.27 and a two-hundred day simple moving average of $79.66. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 5.48 and a beta of 0.79.

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