Integrated Quantitative Investments LLC Invests $392,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Integrated Quantitative Investments LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,800 shares of the company's stock, valued at approximately $392,000.

Several other large investors have also recently added to or reduced their stakes in ZM. Norges Bank bought a new position in Zoom Video Communications during the fourth quarter worth about $751,908,000. Raymond James Financial Inc. acquired a new stake in Zoom Video Communications in the 4th quarter valued at $99,471,000. Contrarius Group Holdings Ltd bought a new position in shares of Zoom Video Communications during the fourth quarter valued at $72,854,000. Arrowstreet Capital Limited Partnership lifted its holdings in Zoom Video Communications by 357.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company's stock valued at $81,507,000 after purchasing an additional 780,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock valued at $102,119,000 after buying an additional 699,625 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Stock Down 4.5 %

ZM traded down $3.25 during trading hours on Thursday, hitting $68.58. 1,442,264 shares of the company's stock were exchanged, compared to its average volume of 2,639,301. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The stock's 50-day moving average is $77.39 and its two-hundred day moving average is $78.40.

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Insiders Place Their Bets

In related news, COO Aparna Bawa sold 9,317 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares in the company, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold 337,995 shares of company stock valued at $27,033,729 in the last three months. 10.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ZM has been the topic of several recent analyst reports. Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Barclays reduced their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley raised their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $89.33.

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.