Creative Planning Buys 678 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Creative Planning lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,059 shares of the company’s stock after purchasing an additional 678 shares during the quarter. Creative Planning’s holdings in Zoom Video Communications were worth $15,444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Keybank National Association OH boosted its position in Zoom Video Communications by 2.2% in the second quarter. Keybank National Association OH now owns 1,470 shares of the company’s stock valued at $569,000 after buying an additional 32 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Zoom Video Communications by 38.0% during the third quarter. Benjamin Edwards Inc. now owns 138 shares of the company’s stock worth $36,000 after buying an additional 38 shares during the last quarter. Allworth Financial LP increased its stake in Zoom Video Communications by 14.0% in the third quarter. Allworth Financial LP now owns 310 shares of the company’s stock valued at $81,000 after purchasing an additional 38 shares in the last quarter. JT Stratford LLC increased its stake in Zoom Video Communications by 3.6% in the second quarter. JT Stratford LLC now owns 1,132 shares of the company’s stock valued at $438,000 after purchasing an additional 39 shares in the last quarter. Finally, Budros Ruhlin & Roe Inc. grew its holdings in shares of Zoom Video Communications by 2.4% during the third quarter. Budros Ruhlin & Roe Inc. now owns 1,740 shares of the company’s stock valued at $455,000 after buying an additional 40 shares during the last quarter. 48.80% of the stock is currently owned by institutional investors.

Zoom Video Communications stock opened at $159.72 on Friday. Zoom Video Communications, Inc. has a 12 month low of $156.88 and a 12 month high of $451.77. The stock’s 50 day simple moving average is $203.31 and its two-hundred day simple moving average is $280.09. The firm has a market cap of $47.60 billion, a PE ratio of 42.48, a P/E/G ratio of 2.59 and a beta of -1.24.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, November 22nd. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Zoom Video Communications had a return on equity of 24.22% and a net margin of 29.28%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue was up 35.2% on a year-over-year basis. As a group, sell-side analysts forecast that Zoom Video Communications, Inc. will post 3.39 earnings per share for the current fiscal year.

A number of research firms have weighed in on ZM. Citic Securities assumed coverage on shares of Zoom Video Communications in a research note on Thursday, December 30th. They issued a “buy” rating and a $260.00 target price on the stock. Mizuho decreased their price target on shares of Zoom Video Communications from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, November 23rd. Evercore ISI dropped their price target on shares of Zoom Video Communications from $255.00 to $235.00 and set an “in-line” rating for the company in a research report on Tuesday, November 23rd. Citigroup decreased their price objective on shares of Zoom Video Communications from $304.00 to $250.00 and set a “neutral” rating for the company in a report on Tuesday, November 23rd. Finally, Daiwa Capital Markets upgraded shares of Zoom Video Communications from a “sell” rating to an “underperform” rating and set a $207.00 price target for the company in a research note on Tuesday, November 30th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $306.37.

In related news, insider Velchamy Sankarlingam sold 2,986 shares of the firm’s stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $172.00, for a total transaction of $513,592.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 6,700 shares of the firm’s stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $168.64, for a total value of $1,129,888.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,059 shares of company stock worth $17,956,136 in the last quarter. Insiders own 12.27% of the company’s stock.

Zoom Video Communications Profile

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

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

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