Grant Private Wealth Management Inc Has $949,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Grant Private Wealth Management Inc boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,870 shares of the company’s stock after acquiring an additional 1,420 shares during the quarter. Zoom Video Communications accounts for approximately 1.0% of Grant Private Wealth Management Inc’s portfolio, making the stock its 27th largest position. Grant Private Wealth Management Inc’s holdings in Zoom Video Communications were worth $949,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Parkside Financial Bank & Trust increased its stake in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Zoom Video Communications in the fourth quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB increased its stake in Zoom Video Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 246 shares in the last quarter. Colonial Trust Co SC bought a new stake in Zoom Video Communications in the fourth quarter valued at approximately $32,000. Finally, MRP Capital Investments LLC increased its stake in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after purchasing an additional 500 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZM. Barclays lowered their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. KeyCorp began coverage on shares of Zoom Video Communications in a research report on Friday, June 6th. They set an “underweight” rating and a $73.00 price objective for the company. Citigroup lowered their price objective on shares of Zoom Video Communications from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, May 15th. Bank of America increased their price objective on shares of Zoom Video Communications from $79.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley increased their price objective on shares of Zoom Video Communications from $79.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $87.00.

Insider Buying and Selling

In related news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $80.67, for a total transaction of $199,658.25. Following the sale, the director now directly owns 155,349 shares in the company, valued at $12,532,003.83. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet Napolitano sold 2,617 shares of Zoom Video Communications stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $76.78, for a total transaction of $200,933.26. Following the sale, the director now owns 4,728 shares in the company, valued at approximately $363,015.84. This represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,671 shares of company stock valued at $7,078,546. 11.51% of the stock is owned by company insiders.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $76.63 on Friday. The firm has a 50-day moving average of $77.64 and a 200-day moving average of $79.43. The stock has a market cap of $23.18 billion, a PE ratio of 25.54, a P/E/G ratio of 5.48 and a beta of 0.71. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

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

About Zoom Video Communications

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.