Oribel Capital Management LP Purchases New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Oribel Capital Management LP purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 96,400 shares of the company’s stock, valued at approximately $7,867,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ZM. Benchmark reaffirmed a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Morgan Stanley lifted their price objective on 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 reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Barclays dropped their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank reduced their price target on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $89.33.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares in the company, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 33,751 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the sale, the chief executive officer now owns 34,703 shares of the company’s stock, valued at approximately $2,730,779.07. This trade represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,746 shares of company stock valued at $29,689,595 over the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Trading Down 7.5 %

ZM stock opened at $67.75 on Friday. The stock’s 50 day simple moving average is $79.13 and its 200 day simple moving average is $78.42. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market capitalization of $20.68 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

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.