Sawtooth Solutions LLC lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 30.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,349 shares of the company's stock after selling 1,031 shares during the quarter. Sawtooth Solutions LLC's holdings in Zoom Video Communications were worth $254,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Zoom Video Communications during the 4th quarter worth $26,000. Tyler Stone Wealth Management purchased a new position in shares of Zoom Video Communications during the 4th quarter worth $38,000. Cornerstone Advisory LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter worth $44,000. GHP Investment Advisors Inc. purchased a new position in shares of Zoom Video Communications during the 1st quarter worth $29,000. Finally, Nauset Wealth Management. LLC purchased a new position in shares of Zoom Video Communications during the 1st quarter worth $30,000. Institutional investors and hedge funds own 52.86% of the company's stock.
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Zoom Video Communications Stock Performance
Shares of Zoom Video Communications stock opened at $73.59 on Friday. Zoom Video Communications, Inc. has a one year low of $72.96 and a one year high of $291.31. The company has a market cap of $21.90 billion, a PE ratio of 22.78, a P/E/G ratio of 2.94 and a beta of -0.49. The business has a 50-day simple moving average of $90.90 and a 200-day simple moving average of $101.86.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last announced its quarterly earnings data on Monday, August 22nd. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a return on equity of 11.87% and a net
margin of 23.05%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, sell-side analysts predict that Zoom Video Communications, Inc. will post 1.3 earnings per share for the current fiscal year.
Insider Activity at Zoom Video Communications
In related news, COO Aparna Bawa sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $217,620.00. Following the completion of the transaction, the chief operating officer now directly owns 78,147 shares of the company's stock, valued at $8,503,175.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Aparna Bawa sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $217,620.00. Following the completion of the transaction, the chief operating officer now directly owns 78,147 shares of the company's stock, valued at $8,503,175.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly Steckelberg sold 6,700 shares of the business's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $105.46, for a total value of $706,582.00. 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 three months. 11.24% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have recently commented on ZM. Benchmark reduced their price target on Zoom Video Communications from $128.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, August 23rd. BTIG Research lowered Zoom Video Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, August 23rd. KeyCorp assumed coverage on Zoom Video Communications in a report on Monday, September 12th. They set a "sector weight" rating on the stock. Evercore ISI reduced their price objective on shares of Zoom Video Communications to $95.00 in a report on Tuesday, August 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Zoom Video Communications from $105.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $136.03.
About Zoom Video Communications
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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.
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