Martingale Asset Management L P Purchases 95,276 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Martingale Asset Management L P boosted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 45.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,094 shares of the company’s stock after acquiring an additional 95,276 shares during the quarter. Martingale Asset Management L P owned 0.10% of Zoom Video Communications worth $21,138,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after purchasing an additional 145 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after purchasing an additional 154 shares in the last quarter. Allworth Financial LP grew its position in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Axiom Advisory LLC lifted its holdings in shares of Zoom Video Communications by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after acquiring an additional 183 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after acquiring an additional 189 shares during the period. 66.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total value of $609,184.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the completion of the sale, the chief operating officer now owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. The trade was a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 over the last three months. 10.78% of the stock is owned by insiders.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $85.36 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm has a market cap of $26.27 billion, a PE ratio of 28.45, a PEG ratio of 5.69 and a beta of -0.05. The company has a 50 day simple moving average of $74.92 and a two-hundred day simple moving average of $66.16.

Analyst Ratings Changes

ZM has been the subject of several research reports. Piper Sandler increased their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird decreased their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. The Goldman Sachs Group raised their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.19.

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.