Wealth Enhancement Advisory Services LLC Sells 29,349 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Wealth Enhancement Advisory Services LLC reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 39.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,143 shares of the company’s stock after selling 29,349 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Zoom Video Communications were worth $3,684,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Caprock Group LLC bought a new stake in shares of Zoom Video Communications during the fourth quarter worth $288,000. Chicago Partners Investment Group LLC purchased a new position in Zoom Video Communications in the 4th quarter worth about $315,000. Tokio Marine Asset Management Co. Ltd. increased its stake in Zoom Video Communications by 5.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,418 shares of the company’s stock worth $687,000 after buying an additional 448 shares during the period. Stratos Wealth Advisors LLC bought a new stake in Zoom Video Communications during the 4th quarter valued at about $1,161,000. Finally, WT Asset Management Ltd purchased a new stake in Zoom Video Communications in the 4th quarter valued at about $14,747,000. Institutional investors own 66.54% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the sale, the director now directly owns 157,824 shares of the company’s stock, valued at $12,439,687.68. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,984 shares of company stock valued at $6,469,680. Insiders own 11.51% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $80.98 on Wednesday. The stock’s fifty day moving average price is $76.42 and its 200 day moving average price is $79.61. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $24.72 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $1.35 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group reduced their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. William Blair restated an “outperform” rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. Morgan Stanley lifted their target price on Zoom Video Communications from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, May 22nd. Wall Street Zen raised Zoom Video Communications from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th. Finally, Piper Sandler raised their price target on Zoom Video Communications from $77.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.61.

Zoom Video Communications Company 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.