B. Riley Wealth Management Inc. reduced its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 68.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,199 shares of the company’s stock after selling 4,801 shares during the period. B. Riley Wealth Management Inc.’s holdings in Zoom Video Communications were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of ZM. Meiji Yasuda Asset Management Co Ltd. increased its position in Zoom Video Communications by 29.1% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,526 shares of the company’s stock worth $1,454,000 after purchasing an additional 1,020 shares during the last quarter. Zevenbergen Capital Investments LLC increased its position in shares of Zoom Video Communications by 24.2% during the first quarter. Zevenbergen Capital Investments LLC now owns 284,394 shares of the company’s stock valued at $91,373,000 after acquiring an additional 55,492 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Zoom Video Communications by 35.0% in the second quarter. Illinois Municipal Retirement Fund now owns 11,729 shares of the company’s stock valued at $4,539,000 after purchasing an additional 3,041 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Zoom Video Communications by 80.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 4,583 shares of the company’s stock valued at $1,473,000 after purchasing an additional 2,048 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Zoom Video Communications in the second quarter valued at approximately $233,000. 46.87% of the stock is currently owned by hedge funds and other institutional investors.
ZM has been the topic of a number of recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $380.00 price target on shares of Zoom Video Communications in a research note on Tuesday, September 14th. Stifel Nicolaus reduced their target price on shares of Zoom Video Communications from $450.00 to $350.00 and set a “hold” rating on the stock in a report on Tuesday, August 31st. Morgan Stanley upgraded shares of Zoom Video Communications from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $360.00 to $400.00 in a report on Thursday, August 26th. Oppenheimer reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, July 2nd. Finally, Benchmark assumed coverage on shares of Zoom Video Communications in a report on Thursday, July 15th. They set a “hold” rating and a $360.61 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $399.75.
Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Sunday, August 29th. The company reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.20. Zoom Video Communications had a return on equity of 29.83% and a net margin of 27.58%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.27 million. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 54.0% compared to the same quarter last year. Equities analysts anticipate that Zoom Video Communications, Inc. will post 3.3 EPS for the current year.
In related news, COO Aparna Bawa sold 2,593 shares of the firm’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $381.25, for a total value of $988,581.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bart Swanson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $400.00, for a total value of $400,000.00. Following the completion of the transaction, the director now directly owns 15,625 shares in the company, valued at $6,250,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,992 shares of company stock valued at $81,242,297. 12.27% of the stock is owned by corporate insiders.
Zoom Video Communications Profile
Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.
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