Ashton Thomas Private Wealth LLC Acquires 5,953 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Ashton Thomas Private Wealth LLC raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 29,765.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,973 shares of the company’s stock after acquiring an additional 5,953 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Zoom Video Communications were worth $417,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after acquiring an additional 2,579,720 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after acquiring an additional 1,855,679 shares during the period. Dimensional Fund Advisors LP boosted its stake in Zoom Video Communications by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock worth $80,827,000 after acquiring an additional 264,217 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in Zoom Video Communications by 20.0% during the second quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock valued at $75,794,000 after purchasing an additional 213,575 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Thursday, October 10th. Benchmark increased their price target on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Robert W. Baird cut their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued 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 investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $76.26.

Insider Activity

In related news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the sale, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at $97,830.81. This represents a 51.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 372,121 shares of company stock valued at $27,095,467 in the last quarter. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

ZM opened at $82.63 on Friday. The business’s 50-day simple moving average is $71.48 and its 200 day simple moving average is $64.59. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $87.15. The firm has a market capitalization of $25.43 billion, a PE ratio of 29.62, a PEG ratio of 7.44 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. On average, 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.