Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Northstar Asset Management Inc.

Northstar Asset Management Inc. reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 48,865 shares of the company’s stock after selling 214 shares during the period. Northstar Asset Management Inc.’s holdings in Zoom Video Communications were worth $3,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZM. Innealta Capital LLC acquired a new stake in Zoom Video Communications during the second quarter valued at $33,000. Allworth Financial LP grew its position in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications in the 2nd quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications in the 2nd quarter worth about $41,000. Finally, Versant Capital Management Inc boosted its position in Zoom Video Communications by 1,257.7% during the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after purchasing an additional 893 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the sale, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at $97,830.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the transaction, the chief accounting officer now owns 1,463 shares in the company, valued at approximately $97,830.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 37,206 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the sale, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at $7,798,056.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 193,550 shares of company stock worth $13,361,571. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wedbush initiated coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday, October 10th. Robert W. Baird lowered their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, Benchmark increased their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $75.32.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $77.75 on Wednesday. The company has a market capitalization of $23.93 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 6.51 and a beta of -0.05. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $77.85. The firm has a 50 day moving average price of $69.83 and a 200 day moving average price of $63.69.

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

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.