Blueshift Asset Management LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Blueshift Asset Management LLC acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,079 shares of the company’s stock, valued at approximately $563,000.

Several other large investors have also recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in Zoom Video Communications in the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications in the 2nd quarter worth approximately $36,000. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications in the 3rd quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications during the second quarter valued at approximately $41,000. Finally, Allworth Financial LP lifted its stake in Zoom Video Communications by 43.8% during 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 during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZM. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $70.00 to $115.00 in a report on Tuesday. Bank of America lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wedbush assumed coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective for the company. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $85.36 on Thursday. The firm’s fifty day moving average price is $74.55 and its two-hundred day moving average price is $66.03. The company has a market cap of $26.27 billion, a P/E ratio of 28.45, a P/E/G ratio of 7.12 and a beta of -0.05. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 14,151 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $68.12, for a total transaction of $963,966.12. Following the completion of the sale, the chief financial officer now directly owns 140,427 shares in the company, valued at $9,565,887.24. This represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by corporate insiders.

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.