Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Position Boosted by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC boosted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 100.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,845 shares of the company's stock after purchasing an additional 86,785 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.06% of Zoom Video Communications worth $12,054,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. increased its stake in Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company's stock worth $310,566,000 after acquiring an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC increased its position in Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock worth $337,233,000 after purchasing an additional 2,520,987 shares in the last quarter. FMR LLC raised its holdings in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after buying an additional 2,395,396 shares during the period. Acadian Asset Management LLC lifted its position in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock valued at $290,153,000 after buying an additional 1,855,679 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in Zoom Video Communications during the third quarter worth approximately $62,038,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Shane Crehan sold 1,550 shares of the 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 completion of the sale, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. This represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 438,240 shares of company stock worth $32,919,913. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Price Performance

NASDAQ:ZM traded up $2.86 during mid-day trading on Friday, reaching $86.22. The stock had a trading volume of 3,359,174 shares, compared to its average volume of 4,480,636. The stock's 50 day simple moving average is $76.71 and its two-hundred day simple moving average is $67.01. 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 capitalization of $26.43 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 5.44 and a beta of -0.03.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ZM shares. Piper Sandler raised their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Mizuho increased their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the stock a "hold" rating in a research note on Tuesday, November 26th. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Finally, UBS Group raised their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently 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.