Quantbot Technologies LP Invests $3.60 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Quantbot Technologies LP bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 51,658 shares of the company’s stock, valued at approximately $3,603,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Zoom Video Communications by 20.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company’s stock valued at $1,125,000 after buying an additional 2,714 shares during the period. Wiser Advisor Group LLC grew its position in shares of Zoom Video Communications by 124.9% during the third quarter. Wiser Advisor Group LLC now owns 4,420 shares of the company’s stock worth $308,000 after buying an additional 2,455 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the third quarter worth approximately $37,000. Finally, Daiwa Securities Group Inc. raised its holdings in Zoom Video Communications by 7.8% in the third quarter. Daiwa Securities Group Inc. now owns 22,982 shares of the company’s stock valued at $1,603,000 after acquiring an additional 1,669 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 2.3 %

NASDAQ:ZM opened at $85.36 on Thursday. The company has a 50-day moving average of $74.55 and a 200-day moving average of $66.03. The firm has a market cap of $26.27 billion, a price-to-earnings 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 twelve month low of $55.06 and a twelve month high of $92.80.

Insiders Place Their Bets

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total value of $609,184.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 367,108 shares of company stock worth $26,796,191. Company insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of several recent analyst reports. Wedbush started coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective for the company. The Goldman Sachs Group upped their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday. Sanford C. Bernstein raised 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. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $70.00 to $115.00 in a research note on Tuesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.19.

Zoom Video Communications 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.