Paragon Capital Management Inc. Invests $2.15 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Paragon Capital Management Inc. acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 30,865 shares of the company's stock, valued at approximately $2,153,000. Zoom Video Communications accounts for about 1.6% of Paragon Capital Management Inc.'s holdings, making the stock its 14th largest position.

Several other hedge funds also recently bought and sold shares of ZM. Vontobel Holding Ltd. raised its holdings in Zoom Video Communications by 43.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 53,307 shares of the company's stock worth $3,718,000 after purchasing an additional 16,149 shares in the last quarter. Swedbank AB raised its holdings in shares of Zoom Video Communications by 6.4% during the third quarter. Swedbank AB now owns 41,896 shares of the company's stock valued at $2,922,000 after purchasing an additional 2,518 shares during the last quarter. Creative Planning lifted its holdings in shares of Zoom Video Communications by 18.5% during the 3rd quarter. Creative Planning now owns 34,522 shares of the company's stock valued at $2,408,000 after buying an additional 5,396 shares during the period. Harrington Investments INC boosted its position in Zoom Video Communications by 12.4% in the third quarter. Harrington Investments INC now owns 18,645 shares of the company's stock worth $1,300,000 after purchasing an additional 2,055 shares during the last quarter. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of Zoom Video Communications during the 3rd quarter valued at $397,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ZM shares. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Thursday, October 10th. Wells Fargo & Company upped 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. Piper Sandler dropped their price objective on Zoom Video Communications from $72.00 to $68.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 10th. Bank of America reduced their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Zoom Video Communications has an average rating of "Hold" and a consensus target price of $75.32.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction that occurred 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 transaction, the director now owns 1,514 shares of the company's stock, valued at approximately $103,497.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Aparna Bawa sold 880 shares of the business's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now directly owns 2,809 shares in the company, valued at $191,264.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $68.36, for a total transaction of $854,500.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at $103,497.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 157,762 shares of company stock worth $10,584,251 in the last three months. Insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Up 1.8 %

Shares of Zoom Video Communications stock traded up $1.27 during midday trading on Thursday, hitting $70.20. The company's stock had a trading volume of 1,938,972 shares, compared to its average volume of 3,282,944. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77. The firm has a market capitalization of $21.71 billion, a P/E ratio of 26.18, a PEG ratio of 5.85 and a beta of -0.04. The stock has a 50-day simple moving average of $66.38 and a 200-day simple moving average of $62.54.

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