NorthCrest Asset Manangement LLC Buys Shares of 3,516 Zoom Video Communications, Inc. (NASDAQ:ZM)

NorthCrest Asset Manangement LLC purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,516 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Global X Japan Co. Ltd. increased its position in Zoom Video Communications by 127.5% in the fourth 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 period. Avior Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 291.2% during the fourth 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 period. Parkside Financial Bank & Trust grew its position 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 worth $29,000 after acquiring an additional 258 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth about $30,000. Finally, Colonial Trust Co SC bought a new stake in Zoom Video Communications in the 4th quarter valued at about $32,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

Shares of ZM traded up $0.02 during trading hours on Monday, hitting $81.27. 2,422,981 shares of the company were exchanged, compared to its average volume of 2,979,919. The company has a market capitalization of $24.81 billion, a PE ratio of 27.09, a PEG ratio of 5.48 and a beta of 0.79. The firm has a fifty day simple moving average of $76.27 and a 200-day simple moving average of $79.60. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. Zoom Video Communications's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.35 earnings per share. Sell-side analysts expect that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

Wall Street Analyst Weigh In

ZM has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Citigroup decreased their price objective on Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Morgan Stanley lifted their target price on Zoom Video Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Scotiabank increased their price target on Zoom Video Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Friday, May 16th. Fifteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has an average rating of "Moderate Buy" and a consensus price target of $87.61.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. This trade represents a 8.62% decrease in their position. 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 ninety days. 11.51% of the stock is currently owned by company 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.