Metis Global Partners LLC Has $282,000 Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Metis Global Partners LLC raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,046 shares of the company’s stock after purchasing an additional 267 shares during the quarter. Metis Global Partners LLC’s holdings in Zoom Video Communications were worth $282,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ZM. Allworth Financial LP boosted its holdings in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. Axiom Advisory LLC lifted its position in Zoom Video Communications by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after buying an additional 183 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its stake in shares of Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after buying an additional 189 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Zoom Video Communications by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after acquiring an additional 223 shares in the last quarter. Finally, Excalibur Management Corp raised its holdings in shares of Zoom Video Communications by 5.6% during the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after acquiring an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total value of $299,276.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the transaction, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at $5,847,447.32. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 372,121 shares of company stock worth $27,095,467 over the last three months. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 2.7 %

ZM opened at $78.93 on Tuesday. The business has a 50 day moving average of $72.31 and a 200-day moving average of $65.00. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 6.93 and a beta of -0.05. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Zoom Video Communications, Inc. will post 2.77 EPS for the current year.

Analyst Ratings Changes

ZM has been the topic of several research reports. Bank of America dropped their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Wedbush began coverage on Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective on the stock. Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, October 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average target price of $76.26.

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.