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

Martingale Asset Management L P increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 45.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 303,094 shares of the company's stock after acquiring an additional 95,276 shares during the quarter. Martingale Asset Management L P owned approximately 0.10% of Zoom Video Communications worth $21,138,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZM. Jacobs Levy Equity Management Inc. acquired a new position in Zoom Video Communications during the 1st quarter worth $260,000. California State Teachers Retirement System raised its stake in Zoom Video Communications by 1.7% during the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company's stock valued at $25,900,000 after buying an additional 6,630 shares in the last quarter. Tidal Investments LLC lifted its holdings in Zoom Video Communications by 89.7% during the 1st quarter. Tidal Investments LLC now owns 34,352 shares of the company's stock worth $2,246,000 after buying an additional 16,248 shares during the last quarter. Comerica Bank grew its position in shares of Zoom Video Communications by 15.6% in the 1st quarter. Comerica Bank now owns 4,966 shares of the company's stock worth $325,000 after acquiring an additional 670 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Zoom Video Communications by 27.3% in the 1st quarter. iA Global Asset Management Inc. now owns 4,060 shares of the company's stock valued at $265,000 after acquiring an additional 870 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Video Communications Trading Down 3.1 %

NASDAQ:ZM traded down $2.67 during mid-day trading on Friday, reaching $82.69. 3,230,520 shares of the stock were exchanged, compared to its average volume of 3,355,951. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market capitalization of $25.45 billion, a PE ratio of 28.45, a PEG ratio of 5.69 and a beta of -0.05. The business has a fifty day moving average price of $74.92 and a 200 day moving average price of $66.16.

Insider Transactions at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now owns 1,463 shares of the company's stock, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 880 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now directly owns 2,809 shares of the company's stock, valued at $191,264.81. This represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock valued at $26,796,191 in the last quarter. Insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ZM shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday. Barclays lifted their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a research note on Tuesday. UBS Group raised their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Stifel Nicolaus increased their price target on Zoom Video Communications from $70.00 to $90.00 and gave the stock a "hold" rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $85.19.

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.