11,979 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,979 shares of the company's stock, valued at approximately $884,000.

A number of other large investors have also recently modified their holdings of ZM. Choreo LLC bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $308,000. Strategic Financial Concepts LLC purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth about $831,000. Savant Capital LLC grew its holdings in Zoom Video Communications by 5.4% in the fourth quarter. Savant Capital LLC now owns 34,400 shares of the company's stock worth $2,807,000 after purchasing an additional 1,773 shares during the period. Summit Trail Advisors LLC purchased a new stake in Zoom Video Communications in the fourth quarter worth about $489,000. Finally, Cigna Investments Inc. New bought a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $218,000. Institutional investors own 66.54% of the company's stock.

Insider Activity

In other news, CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $80.67, for a total transaction of $199,658.25. Following the transaction, the director now directly owns 155,349 shares in the company, valued at approximately $12,532,003.83. The trade was a 1.57% 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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reduced 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. Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. UBS Group cut their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Finally, William Blair reaffirmed an "outperform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zoom Video Communications has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Video Communications Trading Down 1.0%

Shares of NASDAQ ZM traded down $0.75 on Thursday, reaching $77.41. 1,953,375 shares of the company traded hands, compared to its average volume of 2,955,075. The stock has a market capitalization of $23.42 billion, a PE ratio of 25.80, a P/E/G ratio of 5.48 and a beta of 0.71. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a 50 day moving average of $77.25 and a 200 day moving average of $79.59.

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 analysts' consensus estimates of $1.30 by $0.13. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The firm 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 company earned $1.35 EPS. The company's revenue was up 2.9% on a year-over-year basis. As a group, research analysts expect 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.