Focus Partners Advisor Solutions LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Focus Partners Advisor Solutions LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,368 shares of the company's stock, valued at approximately $275,000.

Several other hedge funds have also modified their holdings of ZM. Global X Japan Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC raised its position in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after purchasing an additional 258 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth about $30,000. Finally, Colonial Trust Co SC acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at approximately $32,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on shares of Zoom Video Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Barclays lowered their target price on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Mizuho cut their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Citigroup decreased their target price on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Fifteen investment 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's stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of "Moderate Buy" and a consensus price target of $87.61.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded up $0.77 during midday trading on Wednesday, hitting $79.67. The company's stock had a trading volume of 2,479,499 shares, compared to its average volume of 2,981,920. The company has a market cap of $24.32 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 5.48 and a beta of 0.79. The company has a 50-day moving average price of $76.12 and a two-hundred day moving average price of $79.74. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $1.35 earnings per share. The firm's revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, the director now owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. The trade was a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock worth $12,132,994 over the last quarter. 11.51% of the stock is currently owned by corporate 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.