Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 319,147 shares of the company’s stock after purchasing an additional 16,053 shares during the period. Martingale Asset Management L P owned 0.10% of Zoom Video Communications worth $26,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZM. HighTower Advisors LLC increased its stake in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after buying an additional 52,039 shares during the period. Merit Financial Group LLC acquired a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $1,072,000. State Street Corp raised its holdings in Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares in the last quarter. Nordea Investment Management AB raised its holdings in Zoom Video Communications by 202.8% during the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after purchasing an additional 521,778 shares in the last quarter. Finally, Tri Ri Asset Management Corp bought a new position in Zoom Video Communications during the third quarter valued at about $2,676,000. Institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the transaction, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. This represents a 20.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was 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 three months, insiders sold 337,995 shares of company stock worth $27,033,729. 10.78% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZM. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Scotiabank decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Stifel Nicolaus cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Finally, 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. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $89.33.

Zoom Video Communications Stock Performance

ZM opened at $66.70 on Wednesday. The firm has a market cap of $20.36 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The business has a 50 day moving average price of $78.00 and a 200 day moving average price of $78.43. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

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.