Oribel Capital Management LP Makes New $7.87 Million Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Oribel Capital Management LP bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 96,400 shares of the company’s stock, valued at approximately $7,867,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ZM. Global X Japan Co. Ltd. lifted its holdings in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC increased its position in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Zoom Video Communications in the 4th quarter worth about $39,000. Finally, MRP Capital Investments LLC grew its position in Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 371,746 shares of company stock worth $29,689,595. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

ZM stock opened at $67.75 on Friday. The firm has a 50 day simple moving average of $79.13 and a two-hundred day simple moving average of $78.42. The stock has a market cap of $20.68 billion, a PE ratio of 22.58, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Wall Street Analysts Forecast Growth

Several analysts have commented on ZM shares. UBS Group lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Stifel Nicolaus lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen research 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. According to MarketBeat.com, Zoom Video Communications 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.