Trustcore Financial Services LLC Makes New $31,000 Investment in Zoom Video Communications Inc (NASDAQ:ZM)

Trustcore Financial Services LLC purchased a new position in shares of Zoom Video Communications Inc (NASDAQ:ZM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 350 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds have also modified their holdings of the business. Bessemer Group Inc. purchased a new position in shares of Zoom Video Communications in the second quarter valued at approximately $16,759,000. Broadleaf Partners LLC purchased a new position in shares of Zoom Video Communications in the second quarter valued at approximately $1,414,000. Commonwealth Equity Services LLC purchased a new position in shares of Zoom Video Communications in the second quarter valued at approximately $986,000. Sheets Smith Wealth Management purchased a new position in shares of Zoom Video Communications in the second quarter valued at approximately $316,000. Finally, Meridian Wealth Management LLC purchased a new position in shares of Zoom Video Communications in the second quarter valued at approximately $212,000. Institutional investors own 0.10% of the company’s stock.

NASDAQ ZM traded up $0.73 during trading on Wednesday, reaching $91.16. 17,117 shares of the company’s stock were exchanged, compared to its average volume of 2,094,265. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.46 and a quick ratio of 4.46. The stock has a 50 day simple moving average of $94.31. Zoom Video Communications Inc has a 1 year low of $59.94 and a 1 year high of $107.34.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Thursday, June 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The business had revenue of $122.00 million for the quarter, compared to analysts’ expectations of $111.66 million. The firm’s revenue for the quarter was up 103.1% on a year-over-year basis. As a group, equities research analysts expect that Zoom Video Communications Inc will post -0.14 earnings per share for the current year.

Several equities analysts have recently weighed in on ZM shares. JPMorgan Chase & Co. started coverage on Zoom Video Communications in a research report on Monday, May 13th. They issued an “overweight” rating and a $113.00 target price on the stock. Summit Insights restated a “sell” rating on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Credit Suisse Group restated a “neutral” rating and issued a $90.00 target price (up previously from $80.00) on shares of Zoom Video Communications in a research report on Friday, June 7th. They noted that the move was a valuation call. Oppenheimer initiated coverage on Zoom Video Communications in a research report on Friday, May 24th. They issued a “market perform” rating on the stock. Finally, JMP Securities initiated coverage on Zoom Video Communications in a research report on Monday, May 13th. They set a “market perform” rating and a $79.63 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $85.26.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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

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