Benjamin Edwards Inc. Reduces Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Benjamin Edwards Inc. decreased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 39.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 432 shares of the company’s stock after selling 277 shares during the period. Benjamin Edwards Inc.’s holdings in Zoom Video Communications were worth $31,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AM Squared Ltd purchased a new position in Zoom Video Communications in the third quarter worth $28,000. Allworth Financial LP boosted its position in shares of Zoom Video Communications by 101.4% in the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Zoom Video Communications during the 4th quarter worth $43,000. GAMMA Investing LLC acquired a new position in Zoom Video Communications during the 4th quarter valued at about $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Zoom Video Communications by 134.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock valued at $51,000 after buying an additional 404 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ZM. Jefferies Financial Group began coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price on the stock. Mizuho dropped their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, April 18th. Piper Sandler boosted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Finally, JPMorgan Chase & Co. cut their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $77.56.

Zoom Video Communications Stock Down 1.6 %

NASDAQ:ZM opened at $61.82 on Friday. Zoom Video Communications, Inc. has a 52 week low of $58.87 and a 52 week high of $75.90. The stock’s fifty day moving average is $64.58 and its two-hundred day moving average is $65.71. The stock has a market capitalization of $19.01 billion, a price-to-earnings ratio of 30.30 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. On average, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 2,421 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the sale, the chief executive officer now directly owns 90,001 shares in the company, valued at $5,732,163.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Zoom Video Communications news, CAO Shane Crehan sold 1,931 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $135,170.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 2,421 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the sale, the chief executive officer now directly owns 90,001 shares in the company, valued at approximately $5,732,163.69. The disclosure for this sale can be found here. Insiders have sold a total of 98,231 shares of company stock valued at $6,179,621 in the last ninety days. Company insiders own 11.28% of the company’s stock.

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.