Legacy Financial Advisors Inc. Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Legacy Financial Advisors Inc. acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,000 shares of the company’s stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ZM. AM Squared Ltd acquired a new position in shares of Zoom Video Communications in the 3rd quarter worth approximately $28,000. Allworth Financial LP grew 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 acquiring an additional 282 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter worth approximately $43,000. GAMMA Investing LLC acquired a new position in shares of Zoom Video Communications in the 4th quarter worth approximately $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Zoom Video Communications by 134.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock worth $51,000 after acquiring an additional 404 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,734.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,734.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $61.42, for a total value of $307,529.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,231 shares of company stock worth $6,179,621. 11.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ZM has been the subject of a number of recent research reports. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, April 18th. Piper Sandler upped their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Jefferies Financial Group initiated coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded down $1.01 during mid-day trading on Friday, reaching $61.82. 3,041,928 shares of the company traded hands, compared to its average volume of 2,863,555. The stock has a market cap of $19.01 billion, a PE ratio of 30.30 and a beta of -0.05. The company’s fifty day moving average is $64.58 and its two-hundred day moving average is $65.71. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. Research analysts forecast that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current 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.