Toronto Dominion Bank Has $5.04 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Toronto Dominion Bank lessened its position in Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 13.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Signature Wealth Management Partners LLC increased its holdings in Zoom Video Communications by 4.5% in the 2nd quarter. Signature Wealth Management Partners LLC now owns 2,426 shares of the company’s stock worth $262,000 after purchasing an additional 105 shares in the last quarter. Ieq Capital LLC increased its stake in shares of Zoom Video Communications by 0.4% in the second quarter. Ieq Capital LLC now owns 27,254 shares of the company’s stock valued at $2,943,000 after buying an additional 109 shares during the period. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after buying an additional 114 shares during the period. Brinker Capital Investments LLC increased its stake in shares of Zoom Video Communications by 5.2% in the second quarter. Brinker Capital Investments LLC now owns 2,421 shares of the company’s stock valued at $261,000 after buying an additional 120 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in shares of Zoom Video Communications by 2.6% in the second quarter. Banque Cantonale Vaudoise now owns 4,705 shares of the company’s stock valued at $508,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 52.86% of the company’s stock.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 2,374 shares of the firm’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 value of $169,954.66. Following the transaction, the insider now owns 15,869 shares in the company, valued at $1,136,061.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.24% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $76.14 on Thursday. The business’s 50 day simple moving average is $78.58 and its two-hundred day simple moving average is $93.66. The firm has a market cap of $22.66 billion, a P/E ratio of 33.39, a PEG ratio of 3.01 and a beta of -0.29. Zoom Video Communications, Inc. has a 52-week low of $70.43 and a 52-week high of $235.97.

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, beating analysts’ consensus estimates of $0.84 by $0.23. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 1.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZM. Benchmark decreased their price target on Zoom Video Communications from $118.00 to $102.00 in a research note on Tuesday. UBS Group set a $83.00 price target on Zoom Video Communications in a research note on Wednesday. Stifel Nicolaus decreased their price target on Zoom Video Communications from $90.00 to $80.00 in a research note on Wednesday, November 9th. The Goldman Sachs Group decreased their price target on Zoom Video Communications from $104.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, KeyCorp began coverage on Zoom Video Communications in a research note on Monday, September 12th. They set a “sector weight” rating for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $115.86.

Zoom Video Communications Profile

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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.

Further Reading

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

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