Quadrature Capital Ltd Buys Shares of 14,448 Zoom Video Communications, Inc. (NASDAQ:ZM)

Quadrature Capital Ltd purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,448 shares of the company’s stock, valued at approximately $944,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZM. Norges Bank bought a new stake in Zoom Video Communications in the fourth quarter worth approximately $164,224,000. Acadian Asset Management LLC increased its stake in shares of Zoom Video Communications by 54.8% in the 1st quarter. Acadian Asset Management LLC now owns 3,046,718 shares of the company’s stock valued at $199,146,000 after acquiring an additional 1,078,937 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares during the period. Retirement Systems of Alabama bought a new position in Zoom Video Communications during the first quarter worth $42,289,000. Finally, International Assets Investment Management LLC grew its holdings in Zoom Video Communications by 5,787.2% in the fourth quarter. International Assets Investment Management LLC now owns 583,190 shares of the company’s stock worth $41,937,000 after purchasing an additional 573,284 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 874 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total value of $53,995.72. Following the completion of the transaction, the chief operating officer now owns 2,814 shares of the company’s stock, valued at approximately $173,848.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total transaction of $317,243.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 874 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $61.78, for a total value of $53,995.72. Following the completion of the sale, the chief operating officer now owns 2,814 shares in the company, valued at $173,848.92. The disclosure for this sale can be found here. Insiders sold a total of 123,636 shares of company stock worth $7,242,839 over the last quarter. 10.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on ZM shares. Evercore ISI reduced their target price on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, May 21st. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, May 21st. Rosenblatt Securities increased their target price on Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Robert W. Baird decreased their price target on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average target price of $75.22.

Zoom Video Communications Stock Up 0.8 %

Shares of NASDAQ ZM traded up $0.48 during trading on Friday, reaching $60.09. The company had a trading volume of 1,906,443 shares, compared to its average volume of 2,551,115. Zoom Video Communications, Inc. has a 12-month low of $55.63 and a 12-month high of $75.90. The business’s 50-day moving average is $59.70 and its 200 day moving average is $63.04. The stock has a market cap of $18.58 billion, a PE ratio of 22.42, a P/E/G ratio of 9.22 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. On average, analysts anticipate that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

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.