Integrated Quantitative Investments LLC Buys New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Integrated Quantitative Investments LLC purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,800 shares of the company’s stock, valued at approximately $392,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Zoom Video Communications during the fourth quarter valued at about $751,908,000. Raymond James Financial Inc. acquired a new stake in Zoom Video Communications in the 4th quarter valued at about $99,471,000. Contrarius Group Holdings Ltd bought a new position in shares of Zoom Video Communications during the 4th quarter valued at about $72,854,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Zoom Video Communications by 357.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company’s stock worth $81,507,000 after purchasing an additional 780,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after purchasing an additional 699,625 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This represents a 20.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total value of $2,655,866.19. Following the completion of the sale, the chief executive officer now owns 34,703 shares of the company’s stock, valued at approximately $2,730,779.07. This trade represents a 49.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $67.75 on Friday. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 5.48 and a beta of 0.67. The stock has a 50-day simple moving average of $79.13 and a 200-day simple moving average of $78.35. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Analyst Ratings Changes

ZM has been the topic of several recent research reports. Barclays decreased their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Stifel Nicolaus cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Finally, Citigroup decreased their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $89.33.

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.