Quadrature Capital Ltd Invests $865,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Quadrature Capital Ltd acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,401 shares of the company’s stock, valued at approximately $865,000.

Several other institutional investors and hedge funds have also bought and sold shares of ZM. Pacer Advisors Inc. increased its stake in shares of Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC grew its stake in Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares in the last quarter. FMR LLC raised its holdings in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after acquiring an additional 2,395,396 shares during the period. Acadian Asset Management LLC raised its holdings in Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after acquiring an additional 1,855,679 shares during the period. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Zoom Video Communications during the third quarter worth $62,038,000. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Up 3.4 %

Shares of NASDAQ:ZM opened at $86.22 on Friday. The stock has a market capitalization of $26.43 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 5.28 and a beta of -0.03. The stock’s 50-day moving average price is $76.71 and its 200-day moving average price is $67.01. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Piper Sandler increased their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. The Goldman Sachs Group boosted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. UBS Group 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 research note on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price target on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, November 26th. Two equities 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 company’s stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $85.19.

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 831 shares of the firm’s 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 owns 1,978 shares in the company, valued at $131,121.62. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at $97,830.81. This represents a 51.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,240 shares of company stock worth $32,919,913. 10.78% of the stock is currently owned by insiders.

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.