Adero Partners LLC Decreases Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Adero Partners LLC reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 27.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,380 shares of the company’s stock after selling 2,002 shares during the period. Adero Partners LLC’s holdings in Zoom Video Communications were worth $375,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Zoom Video Communications during the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications during the second quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the second quarter worth approximately $41,000. Allworth Financial LP increased its stake in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after acquiring an additional 274 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wedbush assumed coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. Stifel Nicolaus upped their target price on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. UBS Group raised Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.26.

Zoom Video Communications Stock Down 1.8 %

Zoom Video Communications stock opened at $81.14 on Friday. The business has a fifty day moving average of $72.07 and a two-hundred day moving average of $64.87. The firm has a market cap of $24.97 billion, a P/E ratio of 29.08, a P/E/G ratio of 6.99 and a beta of -0.05. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data 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 return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Zoom Video Communications, Inc. will post 2.77 earnings per share for the current year.

Insider Activity

In related news, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. This trade represents a 29.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kelly Steckelberg sold 5,013 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total value of $299,276.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 372,121 shares of company stock worth $27,095,467. Insiders own 10.78% of the company’s stock.

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.