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

Martingale Asset Management L P boosted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 45.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 303,094 shares of the company’s stock after buying an additional 95,276 shares during the quarter. Martingale Asset Management L P’s holdings in Zoom Video Communications were worth $21,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Zoom Video Communications by 59.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,107 shares of the company’s stock valued at $8,237,000 after purchasing an additional 44,203 shares during the period. FORA Capital LLC purchased a new position in Zoom Video Communications during the 3rd quarter valued at $1,294,000. MetLife Investment Management LLC increased its position in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing an additional 154 shares during the period. CreativeOne Wealth LLC increased its position in Zoom Video Communications by 29.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,287 shares of the company’s stock valued at $578,000 after purchasing an additional 1,862 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in Zoom Video Communications during the 3rd quarter valued at $563,000. 66.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ZM. Barclays boosted their price objective on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $115.00 in a research report on Tuesday. Benchmark upped their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Up 2.3 %

Shares of ZM opened at $85.36 on Friday. The firm has a market capitalization of $26.27 billion, a P/E ratio of 28.45, a P/E/G ratio of 5.69 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a fifty day moving average price of $74.92 and a 200-day moving average price of $66.16.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction dated 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 directly owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by company insiders.

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.