GSA Capital Partners LLP Purchases Shares of 10,211 Zoom Video Communications, Inc. (NASDAQ:ZM)

GSA Capital Partners LLP bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,211 shares of the company's stock, valued at approximately $712,000.

A number of other hedge funds also recently made changes to their positions in ZM. Avantax Advisory Services Inc. boosted its holdings in shares of Zoom Video Communications by 30.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,120 shares of the company's stock valued at $400,000 after purchasing an additional 1,433 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Zoom Video Communications by 8.1% in the 1st quarter. Hillsdale Investment Management Inc. now owns 7,970 shares of the company's stock valued at $521,000 after acquiring an additional 600 shares during the period. Covestor Ltd raised its stake in shares of Zoom Video Communications by 36.5% in the 1st quarter. Covestor Ltd now owns 2,009 shares of the company's stock valued at $131,000 after acquiring an additional 537 shares during the period. UniSuper Management Pty Ltd raised its stake in shares of Zoom Video Communications by 118.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,500 shares of the company's stock valued at $229,000 after acquiring an additional 1,900 shares during the period. Finally, Natixis raised its stake in shares of Zoom Video Communications by 2,875.0% in the 1st quarter. Natixis now owns 148,127 shares of the company's stock valued at $9,683,000 after acquiring an additional 143,148 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 178,571 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan Chadwick sold 12,500 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at $113,610.56. The trade was a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 372,121 shares of company stock worth $27,095,467 in the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded down $2.21 during trading on Monday, reaching $78.93. The company had a trading volume of 4,113,417 shares, compared to its average volume of 3,230,469. The firm's fifty day moving average is $72.31 and its 200 day moving average is $65.00. The firm has a market capitalization of $24.29 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 6.93 and a beta of -0.05. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $87.15.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. Equities analysts predict that Zoom Video Communications, Inc. will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ZM shares. Wells Fargo & Company lifted their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an "underweight" rating in a research note on Thursday, August 22nd. Wedbush initiated coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an "outperform" rating and a $85.00 price target on the stock. Robert W. Baird dropped their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating for the company in a research report on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Finally, Benchmark boosted their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications has an average rating of "Hold" and an average target price of $76.26.

About Zoom Video Communications

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.