World Equity Group Inc. Acquires Shares of 2,595 Zoom Video Communications, Inc. (NASDAQ:ZM)

World Equity Group Inc. acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,595 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baker Avenue Asset Management LP lifted its stake in shares of Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the period. HighTower Advisors LLC lifted its stake in shares of Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares during the period. Merit Financial Group LLC acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $1,072,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after purchasing an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at $62,038,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Down 1.7 %

Zoom Video Communications stock opened at $81.10 on Tuesday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a fifty day simple moving average of $83.13 and a 200-day simple moving average of $76.55. The firm has a market capitalization of $24.86 billion and a price-to-earnings ratio of 27.03.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.53). Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. On average, research analysts anticipate that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ZM shares. Citigroup decreased their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. UBS Group upped their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Piper Sandler upped their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.48.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the transaction, the insider now owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by company insiders.

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.