Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 74.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,835 shares of the company’s stock after purchasing an additional 24,237 shares during the quarter. Quantinno Capital Management LP’s holdings in Zoom Video Communications were worth $3,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in Zoom Video Communications during the third quarter worth about $37,000. Innealta Capital LLC acquired a new stake in Zoom Video Communications during the second quarter worth about $33,000. Allworth Financial LP increased its stake in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications during the second quarter worth about $41,000. Finally, Venturi Wealth Management LLC increased its stake in Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after acquiring an additional 274 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Up 3.4 %

NASDAQ:ZM opened at $86.22 on Monday. The business’s 50 day moving average is $76.71 and its two-hundred day moving average is $67.03. 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 cap of $26.43 billion, a PE ratio of 28.74, a P/E/G ratio of 5.44 and a beta of -0.03.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ZM shares. Sanford C. Bernstein upped their target price on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 26th. Benchmark upped their target price on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. UBS Group upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Bank of America upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.19.

Insiders Place Their Bets

In other news, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total transaction of $938,000.00. Following the sale, the director now directly owns 1,514 shares in the company, valued at approximately $113,610.56. This represents a 89.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. Insiders have sold a total of 438,240 shares of company stock valued at $32,919,913 in the last quarter. 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.