GSA Capital Partners LLP Makes New $712,000 Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

GSA Capital Partners LLP purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the third quarter, Holdings Channel.com reports. The firm purchased 10,211 shares of the company’s stock, valued at approximately $712,000.

Several other large investors also recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications during the 2nd quarter valued at $33,000. Allworth Financial LP increased its stake in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications during the second quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zoom Video Communications during the 2nd quarter worth about $41,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $81.14 on Monday. The firm has a market cap of $24.97 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 6.99 and a beta of -0.05. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $87.15. The business has a 50-day moving average of $72.07 and a 200 day moving average of $64.89.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results 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. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $0.55 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that Zoom Video Communications, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold 372,121 shares of company stock valued at $27,095,467 in the last 90 days. 10.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. Bank of America reduced 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 report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Finally, Benchmark boosted their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two equities research 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 a consensus price target of $76.26.

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.