Creative Planning Has $2.41 Million Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Creative Planning increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.5% in the third quarter, Holdings Channel reports. The institutional investor owned 34,522 shares of the company’s stock after buying an additional 5,396 shares during the period. Creative Planning’s holdings in Zoom Video Communications were worth $2,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in Zoom Video Communications by 128.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,038 shares of the company’s stock valued at $722,000 after purchasing an additional 6,206 shares in the last quarter. Diversified Trust Co raised its position in Zoom Video Communications by 219.4% during the first quarter. Diversified Trust Co now owns 36,422 shares of the company’s stock valued at $2,381,000 after purchasing an additional 25,020 shares in the last quarter. Hudson Capital Management LLC raised its position in Zoom Video Communications by 2.6% during the first quarter. Hudson Capital Management LLC now owns 56,275 shares of the company’s stock valued at $3,679,000 after purchasing an additional 1,419 shares in the last quarter. Principal Financial Group Inc. raised its position in Zoom Video Communications by 35.8% during the first quarter. Principal Financial Group Inc. now owns 21,785 shares of the company’s stock valued at $1,424,000 after purchasing an additional 5,742 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Zoom Video Communications by 47.2% during the first quarter. Commonwealth Equity Services LLC now owns 44,171 shares of the company’s stock valued at $2,887,000 after purchasing an additional 14,170 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 57,371 shares in the company, valued at $4,099,157.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,477 shares of company stock valued at $12,842,978. 10.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Benchmark boosted their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Piper Sandler decreased their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Bank of America decreased their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Two 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $75.32.

Zoom Video Communications Trading Down 0.0 %

Shares of ZM opened at $72.63 on Monday. The stock has a market capitalization of $22.46 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 6.22 and a beta of -0.04. The firm’s fifty day simple moving average is $68.49 and its two-hundred day simple moving average is $62.95. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

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.