Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 357.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 998,744 shares of the company's stock after purchasing an additional 780,446 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.33% of Zoom Video Communications worth $81,507,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Adero Partners LLC raised its position in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock worth $450,000 after purchasing an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock valued at $497,000 after acquiring an additional 131 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock valued at $655,000 after acquiring an additional 132 shares in the last quarter. MetLife Investment Management LLC lifted its position 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 valued at $322,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company's stock worth $63,000 after acquiring an additional 164 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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Zoom Video Communications Price Performance

Shares of ZM traded down $1.79 during mid-day trading on Thursday, reaching $73.25. 2,530,160 shares of the company's stock were exchanged, compared to its average volume of 3,084,778. The business's fifty day simple moving average is $79.52 and its 200-day simple moving average is $78.38. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a market capitalization of $22.36 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 10,817 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 $851,189.73. Following the completion of the sale, the insider now owns 117,760 shares in the company, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Santiago Subotovsky sold 2,475 shares of the company's 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 directly owns 169,452 shares in the company, valued at $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 a total of 371,746 shares of company stock valued at $29,689,595 over the last quarter. 10.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group lowered their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Citigroup lowered their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Scotiabank cut their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average 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.