Simplicity Wealth LLC Purchases New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Simplicity Wealth LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,979 shares of the company's stock, valued at approximately $884,000.

Several other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its position in shares of Zoom Video Communications by 31.9% in the 1st quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock worth $328,000 after purchasing an additional 1,076 shares during the period. Pallas Capital Advisors LLC lifted its position in shares of Zoom Video Communications by 37.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 23,688 shares of the company's stock worth $1,747,000 after purchasing an additional 6,445 shares during the period. Wynn Capital LLC lifted its position in shares of Zoom Video Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after purchasing an additional 160 shares during the period. Gateway Investment Advisers LLC lifted its position in shares of Zoom Video Communications by 2.4% in the 1st quarter. Gateway Investment Advisers LLC now owns 12,847 shares of the company's stock worth $948,000 after purchasing an additional 304 shares during the period. Finally, Hudson Capital Management LLC lifted its position in shares of Zoom Video Communications by 1.9% in the 1st quarter. Hudson Capital Management LLC now owns 64,571 shares of the company's stock worth $4,763,000 after purchasing an additional 1,189 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ZM shares. Citigroup decreased their price target on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Scotiabank increased their price target on shares of 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. Rosenblatt Securities increased their price target on shares of Zoom Video Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Zoom Video Communications from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Finally, Barclays decreased their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $87.00.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $72.18, for a total transaction of $2,968,113.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 2,595 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $80.26, for a total transaction of $208,274.70. Following the transaction, the insider now directly owns 126,393 shares of the company's stock, valued at $10,144,302.18. This represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,671 shares of company stock valued at $7,078,546 over the last three months. 11.51% of the stock is owned by company insiders.

Zoom Video Communications Trading Down 1.0%

ZM traded down $0.78 during trading hours on Friday, hitting $76.63. The company's stock had a trading volume of 2,266,932 shares, compared to its average volume of 2,945,215. The business's 50-day moving average price is $77.64 and its 200-day moving average price is $79.43. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 5.48 and a beta of 0.71.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The business's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 earnings per share. On average, analysts forecast that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

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.