Grimes & Company Inc. Sells 4,560 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Grimes & Company Inc. cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,505 shares of the company’s stock after selling 4,560 shares during the quarter. Grimes & Company Inc. owned approximately 0.07% of Zoom Video Communications worth $15,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in Zoom Video Communications during the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications during the 2nd quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Zoom Video Communications during the second quarter valued at approximately $41,000. Versant Capital Management Inc lifted its holdings in shares of Zoom Video Communications by 1,257.7% during the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after purchasing an additional 893 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Zoom Video Communications by 69.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after purchasing an additional 692 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,121.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the transaction, the insider now owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,121.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,477 shares of company stock valued at $12,842,978 in the last 90 days. Company insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ZM. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Piper Sandler lowered their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Wedbush began coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $75.32.

Zoom Video Communications Stock Up 0.9 %

ZM traded up $0.62 during mid-day trading on Thursday, reaching $73.16. 158,049 shares of the company traded hands, compared to its average volume of 3,250,229. The stock has a market capitalization of $22.52 billion, a P/E ratio of 26.00, a P/E/G ratio of 6.22 and a beta of -0.04. The company’s fifty day moving average price is $67.90 and its 200-day moving average price is $62.81. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) 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 quarter in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share 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.