XTX Topco Ltd Makes New $1.49 Million Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

XTX Topco Ltd acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,154 shares of the company’s stock, valued at approximately $1,489,000.

Other hedge funds have also made changes to their positions in the company. Principal Securities Inc. acquired a new position in Zoom Video Communications during the 4th quarter worth $25,000. Quadrant Capital Group LLC increased its stake in shares of Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of Zoom Video Communications during the 4th quarter worth about $32,000. Innealta Capital LLC bought a new stake in Zoom Video Communications during the 2nd quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the completion of the sale, the insider now directly owns 82,792 shares in the company, valued at $4,731,562.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total value of $591,649.47. The disclosure for this sale can be found here. Insiders sold 128,915 shares of company stock valued at $7,661,812 over the last ninety days. 10.78% of the stock is owned by insiders.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $67.53 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77. The stock has a fifty day moving average price of $62.72 and a two-hundred day moving average price of $62.32. The firm has a market capitalization of $20.89 billion, a P/E ratio of 25.20, a P/E/G ratio of 5.83 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. On average, equities research analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on ZM. Benchmark reiterated a “buy” rating and set a $83.00 price target on shares of Zoom Video Communications in a report on Monday, August 5th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Robert W. Baird dropped their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Bank of America cut their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.68.

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.