Avory & Company LLC Raises Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Avory & Company LLC lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.4% during the fourth quarter, Holdings Channel reports. The firm owned 236,831 shares of the company’s stock after buying an additional 9,940 shares during the period. Zoom Video Communications comprises about 11.9% of Avory & Company LLC’s holdings, making the stock its 4th largest position. Avory & Company LLC’s holdings in Zoom Video Communications were worth $17,031,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ZM. AM Squared Ltd bought a new stake in shares of Zoom Video Communications in the 3rd quarter worth $28,000. Allworth Financial LP grew its stake in shares of Zoom Video Communications by 101.4% in the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $43,000. GAMMA Investing LLC acquired a new stake in Zoom Video Communications during the fourth quarter valued at approximately $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Zoom Video Communications by 134.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock worth $51,000 after buying an additional 404 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded down $2.24 during midday trading on Tuesday, reaching $61.08. 1,263,756 shares of the company’s stock were exchanged, compared to its average volume of 3,286,865. The firm has a market capitalization of $18.79 billion, a PE ratio of 31.04 and a beta of -0.07. The company’s 50 day simple moving average is $64.59 and its two-hundred day simple moving average is $65.78. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. On average, research analysts anticipate that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

ZM has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Mizuho lowered their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Jefferies Financial Group assumed coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price target on the stock. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, April 18th. Finally, Piper Sandler lifted their target price on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.56.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 2,421 shares of Zoom Video Communications stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $63.69, for a total value of $154,193.49. Following the completion of the transaction, the chief executive officer now owns 90,001 shares in the company, valued at $5,732,163.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the transaction, the insider now owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 2,421 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $63.69, for a total value of $154,193.49. Following the sale, the chief executive officer now owns 90,001 shares of the company’s stock, valued at $5,732,163.69. The disclosure for this sale can be found here. Insiders sold 93,224 shares of company stock worth $5,872,091 in the last quarter. 11.28% of the stock is owned by corporate insiders.

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.