Martingale Asset Management L P Raises Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Martingale Asset Management L P increased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 319,147 shares of the company's stock after acquiring an additional 16,053 shares during the quarter. Martingale Asset Management L P owned about 0.10% of Zoom Video Communications worth $26,046,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ZM. FMR LLC increased its holdings in shares of Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after buying an additional 282,645 shares during the last quarter. Norges Bank bought a new stake in Zoom Video Communications during the fourth quarter worth approximately $751,908,000. State Street Corp raised its holdings in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after buying an additional 134,559 shares during the period. Geode Capital Management LLC boosted its stake in shares of Zoom Video Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after purchasing an additional 28,725 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Zoom Video Communications by 9.7% during the 4th quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock valued at $351,319,000 after purchasing an additional 380,900 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Aparna Bawa sold 12,075 shares of the business's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $79.15, for a total value of $955,736.25. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at approximately $156,558.70. This trade represents a 85.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,413 shares of company stock worth $16,009,889 over the last three months. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded up $0.54 during mid-day trading on Monday, hitting $71.88. The stock had a trading volume of 661,679 shares, compared to its average volume of 3,094,882. The firm has a market cap of $21.94 billion, a PE ratio of 23.96, a PEG ratio of 5.48 and a beta of 0.67. The company has a 50 day moving average of $76.77 and a two-hundred day moving average of $78.49. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Wall Street Analysts Forecast Growth

ZM has been the subject of several recent analyst reports. Rosenblatt Securities restated a "buy" rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Morgan Stanley upped their price objective on 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. Barclays decreased their target price on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Scotiabank cut their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. Finally, UBS Group decreased their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Fifteen investment 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.com, the company currently has a consensus rating of "Hold" and an average price target 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.