Weiss Asset Management LP Invests $9.83 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Weiss Asset Management LP bought a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 140,928 shares of the company's stock, valued at approximately $9,828,000.

A number of other institutional investors have also recently added to or reduced their stakes in ZM. Baker Avenue Asset Management LP grew its stake in shares of Zoom Video Communications by 82.1% during the third 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 in the last quarter. Sanctuary Advisors LLC purchased a new position in Zoom Video Communications in the second quarter valued at about $763,000. Robeco Institutional Asset Management B.V. grew its stake in Zoom Video Communications by 15.4% during 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 in the last quarter. National Pension Service increased its holdings in Zoom Video Communications by 30.1% during 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 during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at approximately $62,038,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded down $0.29 during mid-day trading on Friday, reaching $83.36. The company had a trading volume of 2,173,383 shares, compared to its average volume of 4,486,396. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock's 50 day moving average is $76.37 and its 200-day moving average is $66.83. The stock 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.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 831 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the sale, the chief operating officer now owns 1,978 shares of the company's stock, valued at $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 354,907 shares of company stock valued at $25,961,607. Insiders own 10.78% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Hsbc Global Res upgraded Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Bank of America increased their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $85.19.

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.