Venturi Wealth Management LLC Buys 274 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Venturi Wealth Management LLC increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 56.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 763 shares of the company’s stock after purchasing an additional 274 shares during the period. Venturi Wealth Management LLC’s holdings in Zoom Video Communications were worth $53,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its stake in Zoom Video Communications by 30.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,120 shares of the company’s stock valued at $400,000 after purchasing an additional 1,433 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Zoom Video Communications by 18.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,761 shares of the company’s stock worth $8,482,000 after buying an additional 20,367 shares during the last quarter. Blair William & Co. IL raised its position in Zoom Video Communications by 34.2% in the 1st quarter. Blair William & Co. IL now owns 150,157 shares of the company’s stock worth $9,816,000 after buying an additional 38,308 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Zoom Video Communications by 54.8% during the 1st quarter. Acadian Asset Management LLC now owns 3,046,718 shares of the company’s stock valued at $199,146,000 after acquiring an additional 1,078,937 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Zoom Video Communications by 8.1% during the 1st quarter. Hillsdale Investment Management Inc. now owns 7,970 shares of the company’s stock valued at $521,000 after acquiring an additional 600 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications 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 directly owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 372,121 shares of company stock valued at $27,095,467 over the last 90 days. 10.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, October 4th. Bank of America lowered their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Wedbush assumed coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.26.

Zoom Video Communications Stock Performance

ZM opened at $81.14 on Friday. The stock has a market capitalization of $24.97 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 7.33 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 $87.15. The company has a fifty day moving average of $71.79 and a 200 day moving average of $64.72.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current 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.