Urban Wealth Management LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) in the second quarter, HoldingsChannel.com reports. The firm acquired 3,918 shares of the company's stock, valued at approximately $423,000. Zoom Video Communications makes up about 1.4% of Urban Wealth Management LLC's investment portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American International Group Inc. increased its holdings in shares of Zoom Video Communications by 3.5% in the fourth quarter. American International Group Inc. now owns 15,606 shares of the company's stock valued at $2,870,000 after purchasing an additional 526 shares during the period. Lombard Odier Asset Management Switzerland SA acquired a new position in Zoom Video Communications during the fourth quarter worth $269,000. Canada Pension Plan Investment Board grew its holdings in Zoom Video Communications by 0.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 34,891 shares of the company's stock worth $6,417,000 after acquiring an additional 165 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Zoom Video Communications by 368.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 181,044 shares of the company's stock worth $33,296,000 after acquiring an additional 142,400 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Zoom Video Communications by 7,071.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,975 shares of the company's stock worth $12,564,000 after acquiring an additional 65,055 shares during the period. Hedge funds and other institutional investors own 52.86% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZM. Moffett Nathanson began coverage on Zoom Video Communications in a report on Thursday, September 22nd. They issued a "sell" rating and a $86.00 target price on the stock. The Goldman Sachs Group reduced their price objective on Zoom Video Communications from $142.00 to $122.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 23rd. Evercore ISI reduced their target price on Zoom Video Communications to $95.00 in a research report on Tuesday, August 23rd. Robert W. Baird reduced their target price on Zoom Video Communications from $140.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 23rd. Finally, KeyCorp started coverage on Zoom Video Communications in a research report on Monday, September 12th. They set a "sector weight" rating on the stock. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average price target of $136.03.

Zoom Video Communications Stock Down 1.2 %

Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its earnings results on Monday, August 22nd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. Zoom Video Communications had a return on equity of 11.87% and a net margin of 23.05%. Zoom Video Communications's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, sell-side analysts predict that Zoom Video Communications, Inc. will post 1.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 2,000 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $217,620.00. Following the transaction, the chief operating officer now directly owns 78,147 shares in the company, valued at $8,503,175.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kelly Steckelberg sold 6,700 shares of the company's stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $102.00, for a total value of $683,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Aparna Bawa sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total value of $217,620.00. Following the completion of the sale, the chief operating officer now owns 78,147 shares in the company, valued at $8,503,175.07. The disclosure for this sale can be found here. Insiders sold 24,123 shares of company stock valued at $2,542,178 over the last quarter. Insiders own 11.24% of the company's stock.

About Zoom Video Communications

(Get Rating)

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.

Further Reading

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