Two Sigma Advisers LP Raises Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Two Sigma Advisers LP lifted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,448,700 shares of the company's stock after acquiring an additional 128,800 shares during the quarter. Two Sigma Advisers LP owned approximately 0.47% of Zoom Video Communications worth $101,032,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Zoom Video Communications in the second quarter worth $33,000. Truvestments Capital LLC acquired a new stake in Zoom Video Communications in the third quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the second quarter valued at $41,000. Allworth Financial LP increased its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company's stock valued at $41,000 after purchasing an additional 180 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock valued at $53,000 after purchasing an additional 274 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Trading Down 0.3 %

NASDAQ ZM traded down $0.29 during trading hours on Friday, hitting $83.36. The company's stock had a trading volume of 2,173,383 shares, compared to its average volume of 4,486,396. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market capitalization of $25.55 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 5.28 and a beta of -0.03. The company's 50-day simple moving average is $76.37 and its two-hundred day simple moving average is $66.83.

Insiders Place Their Bets

In other news, CAO Shane Crehan sold 1,550 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares in the company, valued at $97,830.81. This trade represents a 51.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was 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. Insiders have sold a total of 354,907 shares of company stock valued at $25,961,607 in the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Piper Sandler increased their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Bank of America increased their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. UBS Group increased their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Benchmark increased their price target on Zoom Video Communications from $85.00 to $97.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, Robert W. Baird decreased their price target on Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating for the company in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.