Ashton Thomas Private Wealth LLC Purchases 5,953 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Ashton Thomas Private Wealth LLC grew its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 29,765.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,973 shares of the company’s stock after purchasing an additional 5,953 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Zoom Video Communications were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ZM. Pacer Advisors Inc. raised its stake in Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the period. International Assets Investment Management LLC increased its stake in Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock worth $34,868,000 after acquiring an additional 492,520 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Zoom Video Communications by 297.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company’s stock worth $41,815,000 after acquiring an additional 478,769 shares during the period. Institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,121 shares of company stock valued at $27,095,467. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM opened at $82.63 on Friday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $87.15. The company has a market cap of $25.43 billion, a PE ratio of 29.62, a P/E/G ratio of 7.44 and a beta of -0.05. The stock has a 50-day moving average of $71.48 and a 200-day moving average of $64.59.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. Zoom Video Communications’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZM. Stifel Nicolaus increased their target price on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, October 4th. Benchmark boosted their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, Wedbush initiated coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.26.

Zoom Video Communications Profile

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.