Clarity Capital Partners LLC Sells 565 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Clarity Capital Partners LLC lessened its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,220 shares of the company’s stock after selling 565 shares during the period. Clarity Capital Partners LLC’s holdings in Zoom Video Communications were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ZM. Innealta Capital LLC bought a new position in Zoom Video Communications during the second quarter valued at $33,000. Allworth Financial LP raised its position in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications in the second quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zoom Video Communications in the second quarter worth about $41,000. Finally, Versant Capital Management Inc increased its stake in Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after buying an additional 893 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity

In related news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $56.64, for a total transaction of $283,596.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $56.64, for a total value of $283,596.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the transaction, the insider now owns 94,000 shares in the company, valued at $6,285,780. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,557 shares of company stock worth $13,645,167 in the last quarter. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ZM shares. Wedbush began coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, October 10th. Robert W. Baird decreased their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Finally, Benchmark lifted their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $75.32.

Zoom Video Communications Trading Down 0.1 %

Shares of ZM stock opened at $75.54 on Tuesday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $76.03. The stock has a 50 day moving average of $69.71 and a 200 day moving average of $63.56. The stock has a market cap of $23.25 billion, a P/E ratio of 27.08, a P/E/G ratio of 6.52 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $0.55 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, research analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

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.