Quinn Opportunity Partners LLC Invests $17.57 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Quinn Opportunity Partners LLC purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 215,255 shares of the company’s stock, valued at approximately $17,567,000. Zoom Video Communications makes up approximately 1.2% of Quinn Opportunity Partners LLC’s investment portfolio, making the stock its 15th largest position. Quinn Opportunity Partners LLC owned approximately 0.07% of Zoom Video Communications as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. boosted its position in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after buying an additional 258 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications during the fourth quarter worth about $39,000. Finally, MRP Capital Investments LLC grew its position in Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock worth $49,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Benchmark reissued a “buy” rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.33.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares in the company, valued at $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,449 shares of company stock valued at $25,338,274. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

ZM opened at $69.61 on Friday. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business has a 50-day moving average of $77.06 and a two-hundred day moving average of $78.40.

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.