Blue Trust Inc. Acquires 2,760 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Blue Trust Inc. raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 117.7% during the third quarter, HoldingsChannel reports. The fund owned 5,105 shares of the company’s stock after buying an additional 2,760 shares during the period. Blue Trust Inc.’s holdings in Zoom Video Communications were worth $356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Zoom Video Communications during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications in the second quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the second quarter valued at approximately $41,000. Versant Capital Management Inc raised its position in Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after acquiring an additional 893 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Zoom Video Communications by 69.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after acquiring an additional 692 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Trading Up 0.4 %

Shares of ZM stock opened at $72.54 on Thursday. The stock has a market capitalization of $22.43 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 6.05 and a beta of -0.04. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77. The stock’s 50-day moving average price is $67.90 and its 200-day moving average price is $62.81.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. As a group, research analysts predict that Zoom Video Communications, Inc. will post 2.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on ZM. Bank of America decreased their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Benchmark raised their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird lowered their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Wells Fargo & Company increased their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.32.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the sale, the chief executive officer now owns 57,371 shares of the company’s stock, valued at $4,099,157.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Zoom Video Communications news, CEO Eric S. Yuan sold 35,722 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the sale, the chief executive officer now directly owns 57,371 shares of the company’s stock, valued at $4,099,157.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 37,206 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the sale, the chief executive officer now owns 114,341 shares in the company, valued at approximately $7,798,056.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,477 shares of company stock valued at $12,842,978. 10.78% of the stock is owned by corporate 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.