Wynn Capital LLC Makes New $618,000 Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Wynn Capital LLC purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,597 shares of the company’s stock, valued at approximately $618,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC boosted its holdings in Zoom Video Communications by 96.2% in the third quarter. CWM LLC now owns 2,975 shares of the company’s stock valued at $208,000 after purchasing an additional 1,459 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Zoom Video Communications during the third quarter worth approximately $219,000. Summit Global Investments purchased a new stake in shares of Zoom Video Communications during the third quarter worth approximately $204,000. State of Alaska Department of Revenue raised its stake in shares of Zoom Video Communications by 1.7% during the third quarter. State of Alaska Department of Revenue now owns 42,925 shares of the company’s stock worth $3,002,000 after purchasing an additional 715 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Zoom Video Communications during the third quarter worth approximately $261,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZM. Piper Sandler increased their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, April 18th. JPMorgan Chase & Co. cut their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Stock Up 0.0 %

Shares of ZM traded up $0.03 during trading hours on Wednesday, reaching $61.65. 3,214,578 shares of the company traded hands, compared to its average volume of 3,332,360. The stock has a fifty day simple moving average of $64.68 and a 200 day simple moving average of $65.87. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The stock has a market capitalization of $18.96 billion, a PE ratio of 30.22 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Research analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 816 shares of Zoom Video Communications stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $66.60, for a total value of $54,345.60. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at $131,734.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,224 shares of company stock valued at $5,872,091. Insiders own 11.28% of the company’s stock.

About Zoom Video Communications

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.