XTX Topco Ltd Makes New $1.49 Million Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

XTX Topco Ltd bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,154 shares of the company’s stock, valued at approximately $1,489,000.

Several other institutional investors also recently made changes to their positions in the stock. Ibex Investors LLC acquired a new stake in shares of Zoom Video Communications in the 2nd quarter worth about $207,000. Hsbc Holdings PLC grew its position in Zoom Video Communications by 14.1% in the 2nd quarter. Hsbc Holdings PLC now owns 857,137 shares of the company’s stock worth $50,675,000 after purchasing an additional 105,921 shares during the last quarter. Elo Mutual Pension Insurance Co increased its stake in shares of Zoom Video Communications by 1.6% in the second quarter. Elo Mutual Pension Insurance Co now owns 22,745 shares of the company’s stock valued at $1,346,000 after purchasing an additional 348 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Zoom Video Communications by 40.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,213 shares of the company’s stock valued at $591,000 after acquiring an additional 2,955 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in Zoom Video Communications during the 2nd quarter valued at $1,050,000. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Benchmark reissued a “buy” rating and set a $83.00 price target on shares of Zoom Video Communications in a report on Monday, August 5th. Piper Sandler lowered their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Robert W. Baird lowered their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Bank of America dropped their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.68.

Zoom Video Communications Price Performance

ZM stock opened at $67.53 on Friday. The company’s 50 day simple moving average is $62.72 and its 200-day simple moving average is $62.32. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77. The firm has a market capitalization of $20.89 billion, a P/E ratio of 25.20, a P/E/G ratio of 5.83 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. Sell-side analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total value of $609,184.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 2,493 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $58.26, for a total value of $145,242.18. Following the completion of the sale, the chief accounting officer now directly owns 2,367 shares of the company’s stock, valued at approximately $137,901.42. The disclosure for this sale can be found here. Insiders have sold a total of 128,915 shares of company stock valued at $7,661,812 in the last 90 days. 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.