Avory & Company LLC Boosts Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Avory & Company LLC raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 56.8% during the third quarter, HoldingsChannel.com reports. The firm owned 226,891 shares of the company’s stock after buying an additional 82,233 shares during the period. Zoom Video Communications accounts for 13.5% of Avory & Company LLC’s portfolio, making the stock its 2nd biggest position. Avory & Company LLC’s holdings in Zoom Video Communications were worth $15,869,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. California Public Employees Retirement System grew its holdings in shares of Zoom Video Communications by 3.4% during the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock valued at $32,231,000 after buying an additional 14,945 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Zoom Video Communications by 15.9% during the third quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock valued at $2,962,000 after buying an additional 5,826 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in shares of Zoom Video Communications by 31.8% during the second quarter. Achmea Investment Management B.V. now owns 23,847 shares of the company’s stock valued at $1,619,000 after buying an additional 5,748 shares during the last quarter. Invenomic Capital Management LP grew its holdings in shares of Zoom Video Communications by 63.0% during the second quarter. Invenomic Capital Management LP now owns 586,959 shares of the company’s stock valued at $39,843,000 after buying an additional 226,832 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Zoom Video Communications by 4.5% in the second quarter. BlackRock Inc. now owns 13,418,767 shares of the company’s stock valued at $910,866,000 after purchasing an additional 581,711 shares during the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Kelly Steckelberg sold 10,960 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $72.36, for a total transaction of $793,065.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 10,960 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $72.36, for a total transaction of $793,065.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Santiago Subotovsky sold 2,067 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $66.73, for a total value of $137,930.91. Following the sale, the director now owns 163,827 shares in the company, valued at approximately $10,932,175.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,409 shares of company stock valued at $6,426,713. Corporate insiders own 11.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $83.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 21st. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 21st. Piper Sandler increased their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. BNP Paribas lowered shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research note on Thursday, January 18th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $75.00 price target on shares of Zoom Video Communications in a research report on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.00.

Read Our Latest Stock Analysis on Zoom Video Communications

Zoom Video Communications Trading Down 0.6 %

ZM stock traded down $0.41 during mid-day trading on Monday, reaching $63.86. The company’s stock had a trading volume of 651,458 shares, compared to its average volume of 2,636,911. The stock has a market cap of $19.44 billion, a PE ratio of 88.04, a P/E/G ratio of 1.05 and a beta of -0.08. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $85.13. The company’s 50 day moving average is $69.55 and its two-hundred day moving average is $67.72.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last announced its quarterly earnings results on Monday, November 20th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.08 by $0.21. Zoom Video Communications had a return on equity of 4.93% and a net margin of 5.21%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company posted $0.21 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts forecast that Zoom Video Communications, Inc. will post 2.1 earnings per share for the current fiscal year.

Zoom Video Communications Company 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.

Further Reading

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

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