Insight Holdings Group LLC Makes New $2.51 Million Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Insight Holdings Group LLC purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,000 shares of the company’s stock, valued at approximately $2,511,000. Zoom Video Communications makes up approximately 0.1% of Insight Holdings Group LLC’s investment portfolio, making the stock its 26th biggest position.

Several other institutional investors have also modified their holdings of the stock. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications in the second quarter worth about $36,000. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications during the third quarter valued at approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the second quarter worth $41,000. Finally, Allworth Financial LP grew its position in shares of 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. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 1.0 %

Shares of NASDAQ ZM traded down $0.80 during midday trading on Tuesday, reaching $82.31. The company’s stock had a trading volume of 133,038 shares, compared to its average volume of 3,340,035. The company has a market cap of $25.33 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 5.22 and a beta of -0.03. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a 50 day moving average price of $75.22 and a 200 day moving average price of $66.33.

Analyst Ratings Changes

A number of research firms have issued reports on ZM. Barclays raised their target price on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. UBS Group raised their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Mizuho boosted their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their price objective on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, November 26th. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.19.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total value of $609,184.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Aparna Bawa sold 880 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 367,108 shares of company stock worth $26,796,191. Insiders own 10.78% of the company’s stock.

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.