Galvin Gaustad & Stein LLC Lowers Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Galvin Gaustad & Stein LLC lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 309,975 shares of the company’s stock after selling 5,695 shares during the period. Zoom Video Communications accounts for about 1.9% of Galvin Gaustad & Stein LLC’s investment portfolio, making the stock its 17th largest holding. Galvin Gaustad & Stein LLC owned about 0.10% of Zoom Video Communications worth $21,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in Zoom Video Communications in the second quarter worth about $763,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after purchasing an additional 167,618 shares in the last quarter. National Pension Service grew its stake in shares of Zoom Video Communications by 30.1% in the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after buying an additional 151,728 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new position in Zoom Video Communications during the third quarter valued at $827,000. Finally, Pallas Capital Advisors LLC purchased a new position in Zoom Video Communications during the third quarter valued at $1,245,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZM. Wells Fargo & Company raised their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Wedbush began coverage on Zoom Video Communications in a research note on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price target for the company. UBS Group raised Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.32.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $81.46 on Friday. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 6.87 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $81.57. The stock’s 50 day simple moving average is $70.46 and its two-hundred day simple moving average is $64.07.

Zoom Video Communications (NASDAQ:ZM) last posted 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 net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.55 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 372,121 shares of company stock valued at $27,095,467. Company insiders own 10.78% of the company’s stock.

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.