Mariner LLC Purchases 9,172 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Mariner LLC raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 47.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,654 shares of the company's stock after buying an additional 9,172 shares during the period. Mariner LLC's holdings in Zoom Video Communications were worth $2,339,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Zoom Video Communications in the fourth quarter worth approximately $751,908,000. Raymond James Financial Inc. acquired a new position in Zoom Video Communications in the 4th quarter worth approximately $99,471,000. Contrarius Group Holdings Ltd purchased a new position in Zoom Video Communications during the 4th quarter worth approximately $72,854,000. Arrowstreet Capital Limited Partnership raised its stake 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 period. Finally, Assenagon Asset Management S.A. boosted its position in shares of 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 worth $102,119,000 after buying an additional 699,625 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Price Performance

NASDAQ:ZM traded up $0.54 during midday trading on Friday, reaching $76.03. The stock had a trading volume of 1,300,179 shares, compared to its average volume of 3,053,864. The stock has a market capitalization of $23.21 billion, a P/E ratio of 25.34, 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 firm's fifty day simple moving average is $74.20 and its 200-day simple moving average is $78.69.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $143,583.02. The trade was a 89.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 242,897 shares of company stock valued at $18,941,111. 10.78% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ZM shares. Citigroup dropped their target price on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Benchmark reiterated a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Rosenblatt Securities decreased their target price on shares of Zoom Video Communications from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Morgan Stanley cut their price objective on Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $85.90.

Zoom Video Communications 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.