Everhart Financial Group Inc. Increases Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Everhart Financial Group Inc. raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.4% in the first quarter, Holdings Channel reports. The institutional investor owned 6,488 shares of the company’s stock after acquiring an additional 390 shares during the period. Everhart Financial Group Inc.’s holdings in Zoom Video Communications were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Wynn Capital LLC grew its position in shares of Zoom Video Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock worth $752,000 after buying an additional 160 shares during the last quarter. Principal Securities Inc. grew its position in shares of Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after buying an additional 166 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock worth $330,000 after purchasing an additional 168 shares in the last quarter. Siemens Fonds Invest GmbH boosted its stake in Zoom Video Communications by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company’s stock worth $391,000 after purchasing an additional 174 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in Zoom Video Communications by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company’s stock worth $3,303,000 after purchasing an additional 215 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZM shares. Bank of America lifted their target price on shares of Zoom Video Communications from $79.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Mizuho lowered their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Rosenblatt Securities lifted their target price on shares of Zoom Video Communications from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target of $87.00.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $76.63 on Friday. The firm has a market cap of $23.18 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71. The company has a 50 day moving average price of $77.64 and a 200-day moving average price of $79.47. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 EPS. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $80.67, for a total value of $199,658.25. Following the completion of the sale, the director now owns 155,349 shares of the company’s stock, valued at approximately $12,532,003.83. The trade was a 1.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 2,595 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $80.26, for a total transaction of $208,274.70. Following the completion of the sale, the insider now directly owns 126,393 shares of the company’s stock, valued at approximately $10,144,302.18. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,671 shares of company stock valued at $7,078,546 in the last three months. 11.51% of the stock is currently owned by corporate insiders.

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.