Transcend Capital Advisors LLC Decreases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Transcend Capital Advisors LLC trimmed its stake in Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,178 shares of the company’s stock after selling 4,362 shares during the period. Zoom Video Communications makes up approximately 1.3% of Transcend Capital Advisors LLC’s portfolio, making the stock its 8th biggest holding. Transcend Capital Advisors LLC’s holdings in Zoom Video Communications were worth $12,328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Avondale Wealth Management grew its position in Zoom Video Communications by 24.0% during the second quarter. Avondale Wealth Management now owns 2,581 shares of the company’s stock valued at $279,000 after acquiring an additional 500 shares during the last quarter. Covington Capital Management grew its position in Zoom Video Communications by 10,000.0% during the second quarter. Covington Capital Management now owns 707 shares of the company’s stock valued at $76,000 after acquiring an additional 700 shares during the last quarter. DnB Asset Management AS grew its holdings in shares of Zoom Video Communications by 10.7% in the second quarter. DnB Asset Management AS now owns 38,341 shares of the company’s stock worth $4,140,000 after purchasing an additional 3,718 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Zoom Video Communications by 28.5% in the first quarter. Amalgamated Bank now owns 24,690 shares of the company’s stock worth $2,894,000 after purchasing an additional 5,470 shares during the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in shares of Zoom Video Communications in the first quarter worth approximately $54,000. 52.86% of the stock is currently owned by institutional investors.

Zoom Video Communications Stock Down 1.9 %

Zoom Video Communications stock opened at $78.68 on Monday. The business has a 50-day simple moving average of $96.66 and a two-hundred day simple moving average of $103.88. The company has a market cap of $23.42 billion, a P/E ratio of 24.36, a P/E/G ratio of 4.33 and a beta of -0.49. Zoom Video Communications, Inc. has a 52-week low of $77.33 and a 52-week high of $291.31.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings results on Monday, August 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a return on equity of 11.87% and a net margin of 23.05%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. Research analysts anticipate that Zoom Video Communications, Inc. will post 1.3 EPS for the current fiscal year.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 2,319 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $109.79, for a total transaction of $254,603.01. Following the transaction, the insider now directly owns 10,863 shares of the company’s stock, valued at approximately $1,192,648.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Velchamy Sankarlingam sold 2,319 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $109.79, for a total transaction of $254,603.01. Following the transaction, the insider now directly owns 10,863 shares of the company’s stock, valued at approximately $1,192,648.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $112.04, for a total value of $750,668.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,823 shares of company stock valued at $3,526,086 in the last ninety days. Corporate insiders own 11.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZM shares. Benchmark dropped their price target on Zoom Video Communications from $128.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, August 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Zoom Video Communications from $105.00 to $95.00 in a research report on Tuesday, August 23rd. MKM Partners lowered their price objective on Zoom Video Communications from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 23rd. Guggenheim lowered their price objective on Zoom Video Communications to $130.00 in a research report on Wednesday, May 25th. Finally, Robert W. Baird lowered their price target on Zoom Video Communications from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $139.58.

Zoom Video Communications Profile

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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.

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

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