Kestra Private Wealth Services LLC Invests $787,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Kestra Private Wealth Services LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 10,947 shares of the company’s stock, valued at approximately $787,000.

Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in Zoom Video Communications by 373.7% during the 4th quarter. Van ECK Associates Corp now owns 28,567 shares of the company’s stock worth $2,054,000 after purchasing an additional 22,537 shares during the period. Intellectus Partners LLC boosted its stake in shares of Zoom Video Communications by 18.3% in the fourth quarter. Intellectus Partners LLC now owns 11,574 shares of the company’s stock valued at $832,000 after buying an additional 1,790 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Zoom Video Communications by 9.3% during the fourth quarter. Russell Investments Group Ltd. now owns 270,245 shares of the company’s stock worth $19,677,000 after acquiring an additional 22,897 shares during the period. Motley Fool Asset Management LLC increased its holdings in shares of Zoom Video Communications by 6.9% in the 4th quarter. Motley Fool Asset Management LLC now owns 8,187 shares of the company’s stock valued at $589,000 after purchasing an additional 532 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in Zoom Video Communications by 28.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,147 shares of the company’s stock valued at $586,000 after buying an additional 1,816 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 2,421 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $63.69, for a total transaction of $154,193.49. Following the completion of the transaction, the chief executive officer now owns 90,001 shares in the company, valued at approximately $5,732,163.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $61.42, for a total transaction of $307,529.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 2,421 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $63.69, for a total value of $154,193.49. Following the transaction, the chief executive officer now directly owns 90,001 shares in the company, valued at $5,732,163.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,231 shares of company stock valued at $6,179,621. 11.28% of the stock is owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $61.82 on Friday. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90. The firm has a market capitalization of $19.01 billion, a PE ratio of 30.30 and a beta of -0.05. The business’s fifty day moving average price is $64.58 and its two-hundred day moving average price is $65.71.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZM has been the subject of a number of research reports. Piper Sandler lifted their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Wedbush reissued a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Finally, Rosenblatt Securities raised Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $77.56.

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.