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

Quantbot Technologies LP acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the third quarter, HoldingsChannel reports. The firm acquired 51,658 shares of the company’s stock, valued at approximately $3,603,000.

A number of other large investors have also modified their holdings of ZM. Truvestments Capital LLC bought a new stake in Zoom Video Communications in the third quarter valued at $37,000. Innealta Capital LLC bought a new stake in shares of Zoom Video Communications in the 2nd quarter worth about $33,000. Allworth Financial LP increased its position in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Zoom Video Communications during the 2nd quarter valued at about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Zoom Video Communications during the 2nd quarter valued at about $41,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Shane Crehan sold 1,550 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares in the company, valued at $97,830.81. This represents a 51.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of the business’s 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 owns 94,000 shares in the company, valued at approximately $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. Insiders sold 367,108 shares of company stock worth $26,796,191 over the last three months. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Trading Up 2.3 %

Shares of ZM stock opened at $85.36 on Thursday. The firm has a market capitalization 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. The firm has a fifty day simple moving average of $74.55 and a two-hundred day simple moving average of $66.03. 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 equities research analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Piper Sandler increased their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday. Benchmark lifted their price target on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus upped their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, The Goldman Sachs Group raised 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 report on Tuesday. Two research 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.