Quantinno Capital Management LP lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 74.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,835 shares of the company's stock after purchasing an additional 24,237 shares during the period. Quantinno Capital Management LP's holdings in Zoom Video Communications were worth $3,964,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications in the third quarter worth about $37,000. Innealta Capital LLC bought a new position in shares of Zoom Video Communications during the 2nd quarter valued at approximately $33,000. Allworth Financial LP lifted its holdings in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock valued at $41,000 after buying an additional 180 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications in the 2nd quarter valued at about $41,000. Finally, Venturi Wealth Management LLC grew its stake in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after acquiring an additional 274 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.
Zoom Video Communications Stock Performance
Shares of Zoom Video Communications stock traded down $0.64 on Monday, hitting $85.58. The company's stock had a trading volume of 3,513,546 shares, compared to its average volume of 3,340,714. 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 $26.23 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 5.44 and a beta of -0.03. The firm has a fifty day moving average price of $76.71 and a 200-day moving average price of $67.03.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on ZM shares. Hsbc Global Res raised shares of Zoom Video Communications to a "strong-buy" rating in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Robert W. Baird reduced their price target on Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating for the company in a research report on Thursday, August 22nd. Scotiabank upgraded Zoom Video Communications to a "hold" rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley lifted their target price on Zoom Video Communications from $68.00 to $86.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $85.19.
Read Our Latest Stock Analysis on Zoom Video Communications
Insider Buying and Selling
In related news, CEO Eric S. Yuan sold 83,333 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction dated 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 directly owns 94,000 shares in the company, valued at $6,285,780. This trade represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,240 shares of company stock worth $32,919,913. 10.78% of the stock is owned by insiders.
Zoom Video Communications Company Profile
(
Free Report)
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.
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