Parallel Advisors LLC Boosts Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Parallel Advisors LLC boosted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 31.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,332 shares of the company’s stock after purchasing an additional 554 shares during the quarter. Parallel Advisors LLC’s holdings in Zoom Video Communications were worth $172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Adero Partners LLC raised its position in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after buying an additional 129 shares in the last quarter. Principal Securities Inc. raised its position in shares of Zoom Video Communications by 26.9% during the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock valued at $64,000 after buying an additional 166 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Zoom Video Communications by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock valued at $330,000 after buying an additional 168 shares in the last quarter. Siemens Fonds Invest GmbH raised its position in shares of Zoom Video Communications by 3.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company’s stock valued at $391,000 after buying an additional 174 shares in the last quarter. Finally, Global X Japan Co. Ltd. raised its position in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 190 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Eric S. Yuan sold 41,121 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $72.18, for a total transaction of $2,968,113.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares in the company, valued at $13,193,532.72. The trade was a 1.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,459 shares of company stock valued at $6,669,338. Corporate insiders own 11.51% of the company’s stock.

Zoom Video Communications Trading Up 0.8%

Shares of ZM opened at $81.33 on Friday. The firm’s 50-day moving average price is $76.69 and its 200-day moving average price is $79.63. The firm has a market capitalization of $24.82 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 EPS. On average, research analysts forecast that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZM. Stifel Nicolaus lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Mizuho reduced their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Bank of America increased their target price on shares of Zoom Video Communications from $79.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Needham & Company LLC raised shares of Zoom Video Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 target price on the stock in a report on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Zoom Video Communications from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th. Fifteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Zoom Video Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.61.

Zoom Video Communications Company 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.