Quadrature Capital Ltd Acquires New Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Quadrature Capital Ltd acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,401 shares of the company's stock, valued at approximately $865,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP lifted its position in shares of Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company's stock valued at $1,994,000 after acquiring an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Zoom Video Communications during the second quarter valued at $763,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company's stock valued at $87,713,000 after purchasing an additional 167,618 shares during the period. National Pension Service increased its stake in Zoom Video Communications by 30.1% in the 3rd quarter. National Pension Service now owns 655,227 shares of the company's stock worth $45,696,000 after purchasing an additional 151,728 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Zoom Video Communications during the 3rd quarter worth about $62,038,000. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Performance

NASDAQ ZM traded up $2.86 during trading on Friday, reaching $86.22. 3,359,174 shares of the company traded hands, compared to its average volume of 4,480,636. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $26.43 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 5.44 and a beta of -0.03. The stock's 50 day moving average price is $76.71 and its two-hundred day moving average price is $67.01.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now owns 1,463 shares of the company's stock, valued at approximately $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the transaction, the insider now owns 94,000 shares in the company, valued at $6,285,780. The trade was a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,240 shares of company stock worth $32,919,913 in the last quarter. 10.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group boosted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Scotiabank raised Zoom Video Communications to a "hold" rating in a research note on Tuesday, November 19th. Evercore ISI raised Zoom Video Communications from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Finally, Mizuho increased their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $85.19.

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.