Archon Capital Management LLC Takes $2.12 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Archon Capital Management LLC bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 26,000 shares of the company's stock, valued at approximately $2,122,000. Zoom Video Communications makes up 2.1% of Archon Capital Management LLC's investment portfolio, making the stock its 17th largest position.

Several other large investors also recently bought and sold shares of the stock. Global X Japan Co. Ltd. boosted its position in Zoom Video Communications by 127.5% in 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 last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after acquiring an additional 258 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Zoom Video Communications in the fourth quarter worth $39,000. Finally, MRP Capital Investments LLC raised its holdings in shares of Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

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Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the sale, the director now directly owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,338 shares of company stock valued at $15,054,153. Corporate insiders own 10.78% of the company's stock.

Wall Street Analysts Forecast Growth

ZM has been the topic of several analyst reports. Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and increased their price target for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Mizuho lowered their price objective on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday. Benchmark reaffirmed a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, UBS Group decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $87.71.

Zoom Video Communications Trading Up 0.6 %

ZM traded up $0.42 on Tuesday, hitting $72.40. 1,916,918 shares of the company's stock were exchanged, compared to its average volume of 3,092,890. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market cap of $22.10 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 5.48 and a beta of 0.67. The firm has a 50-day moving average price of $76.49 and a 200-day moving average price of $78.51.

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.