Archon Capital Management LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Archon Capital Management LLC purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 26,000 shares of the company’s stock, valued at approximately $2,122,000. Zoom Video Communications makes up 2.1% of Archon Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC acquired a new position in shares of Zoom Video Communications during the fourth quarter worth $1,072,000. Nordea Investment Management AB lifted its holdings in Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after acquiring an additional 521,778 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock valued at $63,031,000 after purchasing an additional 293,375 shares during the period. Swedbank AB boosted its stake in shares of Zoom Video Communications by 96.3% during the 4th quarter. Swedbank AB now owns 82,247 shares of the company’s stock worth $6,712,000 after acquiring an additional 40,351 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Zoom Video Communications by 8.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company’s stock worth $7,868,000 after purchasing an additional 7,518 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $71.34 on Friday. The business has a 50-day moving average of $76.77 and a two-hundred day moving average of $78.43. The company has a market capitalization of $21.78 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth 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.

Wall Street Analyst Weigh In

ZM has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Barclays lowered their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Stifel Nicolaus lowered their price target on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $89.33.

Insider Transactions at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,449 shares of company stock valued at $25,338,274. Corporate insiders own 10.78% of the company’s stock.

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.