8,079 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,079 shares of the company’s stock, valued at approximately $563,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Zoom Video Communications in the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $36,000. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications during the 2nd quarter valued at $41,000. Finally, Allworth Financial LP boosted 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 in the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Morgan Stanley upped their target price on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein lifted their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.19.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares in the company, valued at approximately $191,264.81. This represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 367,108 shares of company stock worth $26,796,191. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $85.36 on Thursday. The firm has a fifty day moving average price of $74.55 and a 200-day moving average price of $66.03. The stock has a market cap of $26.27 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 7.12 and a beta of -0.05. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

About Zoom Video Communications

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.