Wealth Enhancement Advisory Services LLC Reduces Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Wealth Enhancement Advisory Services LLC cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 39.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,143 shares of the company's stock after selling 29,349 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Zoom Video Communications were worth $3,684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZM. NorthCrest Asset Manangement LLC purchased a new position in shares of Zoom Video Communications in the 4th quarter valued at approximately $287,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Zoom Video Communications in the fourth quarter worth $7,255,000. Siemens Fonds Invest GmbH raised its holdings in shares of Zoom Video Communications by 3.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after buying an additional 174 shares during the last quarter. Fluent Financial LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth $623,000. Finally, Menard Financial Group LLC grew its holdings in shares of Zoom Video Communications by 7.4% during the fourth quarter. Menard Financial Group LLC now owns 4,651 shares of the company's stock valued at $380,000 after buying an additional 320 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Stock Down 1.1%

Shares of Zoom Video Communications stock traded down $0.89 on Friday, reaching $80.44. The company's stock had a trading volume of 997,444 shares, compared to its average volume of 2,966,330. The company has a market capitalization of $24.55 billion, a P/E ratio of 26.79, a PEG ratio of 5.48 and a beta of 0.79. The stock has a 50-day moving average price of $76.69 and a 200-day moving average price of $79.63. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. The company 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 firm's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 EPS. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZM has been the subject of a number of research analyst reports. KeyCorp began coverage on Zoom Video Communications in a research note on Friday. They issued an "underweight" rating and a $73.00 target price for the company. Stifel Nicolaus reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Citigroup cut their price target on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Barclays reduced 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 report on Wednesday, February 26th. Finally, UBS Group dropped their price objective 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. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $87.00.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the 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 completion of the sale, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the firm'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 transaction, the director now directly owns 169,452 shares in the company, valued at $13,193,532.72. This trade represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,459 shares of company stock valued at $6,669,338. 11.51% of the stock is owned by corporate insiders.

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.