Paragon Capital Management Inc. Acquires Shares of 30,865 Zoom Video Communications, Inc. (NASDAQ:ZM)

Paragon Capital Management Inc. bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 30,865 shares of the company’s stock, valued at approximately $2,153,000. Zoom Video Communications makes up approximately 1.6% of Paragon Capital Management Inc.’s portfolio, making the stock its 14th largest holding.

Several other institutional investors have also recently made changes to their positions in ZM. Vanguard Group Inc. increased its stake in shares of Zoom Video Communications by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after acquiring an additional 721,923 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Zoom Video Communications by 17.8% in the first quarter. Los Angeles Capital Management LLC now owns 204,607 shares of the company’s stock worth $13,375,000 after purchasing an additional 30,902 shares during the period. Perpetual Ltd bought a new position in shares of Zoom Video Communications during the first quarter valued at approximately $657,000. Banque Cantonale Vaudoise lifted its holdings in shares of Zoom Video Communications by 255.1% during the first quarter. Banque Cantonale Vaudoise now owns 3,597 shares of the company’s stock valued at $235,000 after purchasing an additional 2,584 shares during the last quarter. Finally, Wedmont Private Capital bought a new stake in shares of Zoom Video Communications in the 1st quarter worth approximately $253,000. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZM shares. Wells Fargo & Company raised their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Piper Sandler cut their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.05.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,206 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the completion of the transaction, the chief executive officer now owns 114,341 shares in the company, valued at $7,798,056.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the transaction, the chief executive officer now owns 114,341 shares in the company, valued at approximately $7,798,056.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $68.36, for a total value of $854,500.00. Following the sale, the director now owns 1,514 shares in the company, valued at $103,497.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,762 shares of company stock valued at $10,584,251 in the last quarter. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Price Performance

ZM stock opened at $68.93 on Thursday. The company has a market capitalization of $21.22 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 5.85 and a beta of -0.04. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77. The business has a 50 day simple moving average of $66.38 and a two-hundred day simple moving average of $62.54.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. Zoom Video Communications’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. Sell-side analysts anticipate that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Zoom Video Communications 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.