Independent Advisor Alliance Sells 631 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Independent Advisor Alliance lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 16.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,151 shares of the company’s stock after selling 631 shares during the period. Independent Advisor Alliance’s holdings in Zoom Video Communications were worth $227,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in Zoom Video Communications in the 4th quarter worth $25,000. Quadrant Capital Group LLC lifted its stake in Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. AM Squared Ltd purchased a new stake in shares of Zoom Video Communications during the 3rd quarter valued at about $28,000. Allworth Financial LP raised its position in shares of Zoom Video Communications by 101.4% during the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after buying an additional 282 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter valued at about $43,000. Institutional investors own 66.54% of the company’s stock.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Shane Crehan sold 1,931 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $135,170.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,170 shares of company stock worth $6,356,101. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $64.38 on Thursday. The company has a market capitalization of $19.80 billion, a P/E ratio of 24.02 and a beta of -0.05. The company’s 50-day simple moving average is $63.21 and its two-hundred day simple moving average is $65.90. Zoom Video Communications, Inc. has a one year low of $58.87 and a one year high of $75.90.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.84%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZM. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Citigroup upped their target price on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday. Evercore ISI decreased their target price on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday. Finally, Mizuho cut their price target 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. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $76.67.

Check Out Our Latest Stock Analysis on Zoom Video Communications

Zoom Video Communications Profile

(Free Report)

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.

See Also

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

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