Oribel Capital Management LP Makes New $7.87 Million Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Oribel Capital Management LP acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 96,400 shares of the company's stock, valued at approximately $7,867,000.

A number of other hedge funds also recently bought and sold shares of ZM. The Manufacturers Life Insurance Company lifted its stake in Zoom Video Communications by 20.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company's stock worth $1,125,000 after purchasing an additional 2,714 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock worth $322,000 after buying an additional 154 shares during the period. Captrust Financial Advisors lifted its stake in shares of Zoom Video Communications by 67.6% in the 3rd quarter. Captrust Financial Advisors now owns 11,361 shares of the company's stock valued at $792,000 after acquiring an additional 4,584 shares during the last quarter. HighTower Advisors LLC boosted its holdings 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 acquiring an additional 52,039 shares during the period. Finally, Quantinno Capital Management LP grew its position in Zoom Video Communications by 74.4% during the 3rd quarter. Quantinno Capital Management LP now owns 56,835 shares of the company's stock worth $3,964,000 after acquiring an additional 24,237 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

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Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 118,036 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $79.03, for a total value of $9,328,385.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the transaction, the director now directly owns 169,452 shares of the company's stock, 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. Insiders have sold 316,449 shares of company stock valued at $25,338,274 over the last quarter. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Up 1.5 %

Shares of NASDAQ:ZM traded up $1.04 during midday trading on Friday, reaching $70.65. The company's stock had a trading volume of 843,908 shares, compared to its average volume of 3,094,358. The firm has a 50 day moving average of $77.06 and a 200-day moving average of $78.40. The firm has a market capitalization of $21.57 billion, a P/E ratio of 23.49, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Analysts Set New Price Targets

Several brokerages have weighed in on ZM. UBS Group lowered their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 18th. Finally, Barclays cut their target price 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. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus price target of $89.33.

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.