Simplicity Wealth LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Simplicity Wealth LLC bought a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,979 shares of the company’s stock, valued at approximately $884,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Choreo LLC bought a new stake in Zoom Video Communications in the fourth quarter valued at approximately $308,000. Strategic Financial Concepts LLC bought a new stake in Zoom Video Communications during the 4th quarter valued at $831,000. Savant Capital LLC raised its holdings in Zoom Video Communications by 5.4% during the 4th quarter. Savant Capital LLC now owns 34,400 shares of the company’s stock valued at $2,807,000 after buying an additional 1,773 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in Zoom Video Communications during the 4th quarter valued at $489,000. Finally, Cigna Investments Inc. New bought a new stake in Zoom Video Communications in the 4th quarter worth $218,000. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 1.6%

ZM stock opened at $78.16 on Thursday. The business has a 50 day moving average of $77.25 and a 200 day moving average of $79.59. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market cap of $23.65 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71.

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, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $1.35 earnings per share. On average, research analysts expect that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Activity at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the sale, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $143,583.02. This trade represents a 89.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,054 shares of company stock valued at $6,877,613 over the last 90 days. Corporate insiders own 11.51% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Zoom Video Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Piper Sandler upped their price target on Zoom Video Communications from $77.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Stifel Nicolaus dropped their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Finally, UBS Group dropped their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $87.00.

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.