Quinn Opportunity Partners LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Quinn Opportunity Partners LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 215,255 shares of the company's stock, valued at approximately $17,567,000. Zoom Video Communications makes up approximately 1.2% of Quinn Opportunity Partners LLC's portfolio, making the stock its 15th largest position. Quinn Opportunity Partners LLC owned about 0.07% of Zoom Video Communications as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. FMR LLC increased its holdings in Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after buying an additional 282,645 shares during the period. Norges Bank acquired a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $751,908,000. Geode Capital Management LLC increased its position in Zoom Video Communications by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after acquiring an additional 28,725 shares during the period. Renaissance Technologies LLC grew its stake in shares of Zoom Video Communications by 9.7% in the fourth quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock worth $351,319,000 after purchasing an additional 380,900 shares during the last quarter. Finally, FIL Ltd lifted its stake in shares of Zoom Video Communications by 3.7% in the fourth quarter. FIL Ltd now owns 3,012,007 shares of the company's stock worth $245,810,000 after acquiring an additional 108,075 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

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Zoom Video Communications Trading Up 0.9 %

Shares of NASDAQ ZM traded up $0.64 during trading hours on Monday, reaching $71.98. The stock had a trading volume of 1,660,459 shares, compared to its average volume of 3,098,643. The business's fifty day moving average price is $76.77 and its two-hundred day moving average price is $78.49. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 5.48 and a beta of 0.67.

Analysts Set New Price Targets

ZM has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. UBS Group lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Barclays cut their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded Zoom Video Communications from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus price target of $89.33.

Insider Activity

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the transaction, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 12,075 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $79.15, for a total value of $955,736.25. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at approximately $156,558.70. This represents a 85.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,413 shares of company stock worth $16,009,889. Insiders own 10.78% of the company's stock.

Zoom Video Communications Company 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.