Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Quest Partners LLC

Quest Partners LLC increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 28.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,214 shares of the company’s stock after acquiring an additional 2,029 shares during the period. Quest Partners LLC’s holdings in Zoom Video Communications were worth $643,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ZM. Baker Avenue Asset Management LP grew its position in Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after buying an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Zoom Video Communications in the 2nd quarter worth $763,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Zoom Video Communications by 15.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after purchasing an additional 167,618 shares during the last quarter. National Pension Service boosted its position in shares of Zoom Video Communications by 30.1% in the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock valued at $45,696,000 after purchasing an additional 151,728 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Zoom Video Communications in the 3rd quarter worth about $712,000. Institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the sale, the insider now directly owns 94,000 shares in the company, valued at $6,285,780. The trade was a 3.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 367,108 shares of company stock worth $26,796,191. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 5.8 %

ZM stock opened at $85.88 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $87.15. The company has a fifty day simple moving average of $73.43 and a 200 day simple moving average of $65.49. The firm has a market cap of $26.43 billion, a PE ratio of 30.78, a PEG ratio of 6.64 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. Zoom Video Communications’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZM has been the subject of several recent analyst reports. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Benchmark raised their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Thursday, October 10th. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned 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 $76.61.

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.