Two Sigma Advisers LP Increases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Two Sigma Advisers LP lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,448,700 shares of the company’s stock after acquiring an additional 128,800 shares during the period. Two Sigma Advisers LP owned 0.47% of Zoom Video Communications worth $101,032,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ZM. Itau Unibanco Holding S.A. grew its position in shares of Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after acquiring an additional 131 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the period. Menard Financial Group LLC grew its holdings in shares of Zoom Video Communications by 4.0% during the third quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after buying an additional 166 shares during the last quarter. Finally, Allworth Financial LP increased its position in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. This represents a 29.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the transaction, the insider now owns 94,000 shares of the company’s stock, valued at $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 have sold 354,907 shares of company stock valued at $25,961,607 in the last quarter. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $83.36 on Friday. The firm has a market capitalization of $25.55 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 5.28 and a beta of -0.03. The stock’s 50 day moving average price is $76.37 and its 200 day moving average price is $66.83. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Sanford C. Bernstein boosted their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Finally, Bank of America upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $85.19.

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.