9,443 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Bought by Mission Wealth Management LP

Mission Wealth Management LP purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,443 shares of the company’s stock, valued at approximately $1,107,000.

A number of other institutional investors also recently made changes to their positions in ZM. Rise Advisors LLC bought a new stake in Zoom Video Communications during the fourth quarter worth $26,000. Ellevest Inc. boosted its position in Zoom Video Communications by 94.8% in the fourth quarter. Ellevest Inc. now owns 150 shares of the company’s stock worth $28,000 after purchasing an additional 73 shares during the last quarter. BerganKDV Wealth Management LLC boosted its position in Zoom Video Communications by 144.4% in the fourth quarter. BerganKDV Wealth Management LLC now owns 154 shares of the company’s stock worth $28,000 after purchasing an additional 91 shares during the last quarter. Global Trust Asset Management LLC boosted its position in Zoom Video Communications by 1,035.7% in the fourth quarter. Global Trust Asset Management LLC now owns 159 shares of the company’s stock worth $29,000 after purchasing an additional 145 shares during the last quarter. Finally, Burleson & Company LLC boosted its position in Zoom Video Communications by 116.4% in the fourth quarter. Burleson & Company LLC now owns 170 shares of the company’s stock worth $31,000 after purchasing an additional 1,205 shares during the last quarter. Institutional investors and hedge funds own 55.94% of the company’s stock.

ZM has been the topic of several research analyst reports. Piper Sandler cut Zoom Video Communications from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $157.00 to $96.00 in a research report on Thursday, May 12th. Wells Fargo & Company dropped their price target on Zoom Video Communications from $145.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 15th. The Goldman Sachs Group dropped their price target on Zoom Video Communications from $163.00 to $142.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 24th. Citigroup dropped their price target on Zoom Video Communications from $118.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 24th. Finally, Guggenheim dropped their price target on Zoom Video Communications to $130.00 in a research report on Wednesday, May 25th. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Moderate Buy” and a consensus price target of $169.42.

ZM stock opened at $120.42 on Wednesday. Zoom Video Communications, Inc. has a twelve month low of $79.03 and a twelve month high of $406.48. The firm has a market cap of $35.93 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 3.25 and a beta of -0.60. The business has a 50 day moving average of $104.65 and a 200 day moving average of $125.51.

Zoom Video Communications (NASDAQ:ZMGet Rating) last posted its earnings results on Monday, May 23rd. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Zoom Video Communications had a return on equity of 16.56% and a net margin of 29.91%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 EPS. On average, equities research analysts predict that Zoom Video Communications, Inc. will post 1.75 earnings per share for the current year.

In related news, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $112.04, for a total value of $750,668.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 2,000 shares of Zoom Video Communications stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $116.62, for a total value of $233,240.00. Following the completion of the sale, the chief operating officer now directly owns 77,676 shares of the company’s stock, valued at approximately $9,058,575.12. The disclosure for this sale can be found here. In the last three months, insiders sold 54,860 shares of company stock valued at $5,835,746. Corporate insiders own 11.24% of the company’s stock.

Zoom Video Communications Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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