Claro Advisors LLC Purchases Shares of 3,954 Zoom Video Communications, Inc. (NASDAQ:ZM)

Claro Advisors LLC acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,954 shares of the company’s stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Zoom Video Communications during the second quarter worth approximately $33,000. Allworth Financial LP boosted its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications in the 2nd quarter valued at $41,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after acquiring an additional 274 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $77.75 on Wednesday. The stock has a market capitalization of $23.93 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 6.93 and a beta of -0.05. The business’s fifty day moving average is $72.54 and its 200-day moving average is $65.12. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. Zoom Video Communications’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts expect that Zoom Video Communications, Inc. will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on ZM. Wells Fargo & Company raised their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Stifel Nicolaus boosted their target price on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley increased their price target on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. UBS Group upgraded Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Finally, Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.26.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,121.62. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction dated 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. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 over the last three months. 10.78% of the stock is currently owned by insiders.

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.