QRG Capital Management Inc. Purchases 8,952 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

QRG Capital Management Inc. raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 128.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,914 shares of the company's stock after buying an additional 8,952 shares during the period. QRG Capital Management Inc.'s holdings in Zoom Video Communications were worth $1,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Zoom Video Communications in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Zoom Video Communications in the 2nd quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the 2nd quarter valued at $41,000. Allworth Financial LP raised its holdings in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after buying an additional 180 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company's stock valued at $57,000 after buying an additional 893 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kelly Steckelberg sold 5,013 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total value of $299,276.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the firm's stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,121 shares of company stock worth $27,095,467. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded up $1.27 during midday trading on Friday, reaching $81.46. 2,839,793 shares of the company's stock traded hands, compared to its average volume of 3,221,289. The stock has a 50 day moving average of $70.46 and a 200-day moving average of $64.07. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $81.57. The company has a market cap of $25.07 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 6.87 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ZM shares. Wedbush initiated coverage on Zoom Video Communications in a report on Thursday, October 17th. They issued an "outperform" rating and a $85.00 target price on the stock. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a report on Friday, October 11th. Wells Fargo & Company lifted their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Thursday, October 10th. Finally, UBS Group upgraded Zoom Video Communications to a "hold" rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and a consensus price target of $75.32.

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.