Toronto Dominion Bank Sells 7,374 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Toronto Dominion Bank lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,666 shares of the company’s stock after selling 7,374 shares during the period. Toronto Dominion Bank’s holdings in Zoom Video Communications were worth $5,037,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC bought a new position in shares of Zoom Video Communications during the 2nd quarter valued at about $26,000. Wagner Wealth Management LLC bought a new position in shares of Zoom Video Communications during the 2nd quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Zoom Video Communications by 76.7% during the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after purchasing an additional 171 shares in the last quarter. Finally, Glassman Wealth Services lifted its holdings in shares of Zoom Video Communications by 229.8% during the 2nd quarter. Glassman Wealth Services now owns 465 shares of the company’s stock valued at $50,000 after purchasing an additional 324 shares in the last quarter. Institutional investors own 52.86% of the company’s stock.

Zoom Video Communications Trading Down 1.3 %

ZM stock opened at $76.14 on Thursday. The firm has a market capitalization of $22.66 billion, a PE ratio of 33.39, a PEG ratio of 3.01 and a beta of -0.29. Zoom Video Communications, Inc. has a 1-year low of $70.43 and a 1-year high of $235.97. The business’s 50 day simple moving average is $78.58 and its 200 day simple moving average is $93.66.

Zoom Video Communications (NASDAQ:ZMGet Rating) last posted its earnings results on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.23. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. As a group, sell-side analysts predict that Zoom Video Communications, Inc. will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction that occurred on Saturday, October 8th. The stock was sold at an average price of $71.59, for a total transaction of $169,954.66. Following the transaction, the insider now directly owns 15,869 shares of the company’s stock, valued at approximately $1,136,061.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ZM shares. Morgan Stanley cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday. Benchmark cut their target price on Zoom Video Communications from $118.00 to $102.00 in a research note on Tuesday. KeyCorp began coverage on Zoom Video Communications in a research note on Monday, September 12th. They issued a “sector weight” rating on the stock. Moffett Nathanson cut their target price on Zoom Video Communications from $85.00 to $80.00 and set an “underperform” rating on the stock in a research note on Tuesday. Finally, Stifel Nicolaus cut their target price on Zoom Video Communications from $90.00 to $80.00 in a research note on Wednesday, November 9th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $115.86.

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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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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