Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Adero Partners LLC

Adero Partners LLC boosted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 701.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,153 shares of the company's stock after acquiring an additional 38,644 shares during the period. Adero Partners LLC's holdings in Zoom Video Communications were worth $3,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wynn Capital LLC raised its position in Zoom Video Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock valued at $752,000 after purchasing an additional 160 shares during the last quarter. Principal Securities Inc. raised its position in Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after purchasing an additional 166 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after purchasing an additional 168 shares during the last quarter. Siemens Fonds Invest GmbH raised its position in Zoom Video Communications by 3.8% during the 4th 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. Finally, Evergreen Capital Management LLC raised its position in Zoom Video Communications by 0.5% during the 4th quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company's stock worth $3,303,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Activity

In other Zoom Video Communications news, Director Janet Napolitano sold 2,617 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director now owns 4,728 shares of the company's stock, valued at $363,015.84. This represents a 35.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. In the last three months, insiders sold 96,671 shares of company stock worth $7,078,546. 11.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ZM. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised their price target on shares of Zoom Video Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Citigroup decreased 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 research note on Thursday, May 15th. Wells Fargo & Company raised their price target on shares of Zoom Video Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Zoom Video Communications from a "buy" rating to a "strong-buy" rating in a research note on Sunday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $87.00.

Zoom Video Communications Trading Down 1.0%

ZM stock opened at $76.63 on Monday. The firm has a market capitalization of $23.18 billion, a PE ratio of 25.54, a PEG ratio of 5.48 and a beta of 0.71. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The business's 50 day simple moving average is $77.64 and its 200 day simple moving average is $79.38.

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 for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.35 EPS. As a group, sell-side analysts predict that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal 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.

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