Caxton Associates LP Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Caxton Associates LP acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,846 shares of the company’s stock, valued at approximately $1,456,000.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC lifted its stake in shares of Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after buying an additional 282,645 shares during the last quarter. Norges Bank bought a new position in Zoom Video Communications in the 4th quarter worth $751,908,000. AQR Capital Management LLC lifted its position in Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock worth $615,237,000 after acquiring an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Zoom Video Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Zoom Video Communications by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company’s stock valued at $377,429,000 after purchasing an additional 28,725 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $78.23 on Tuesday. The stock has a market capitalization of $23.88 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm has a 50 day moving average of $73.89 and a 200-day moving average of $79.09.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the transaction, the director now owns 169,452 shares in the company, valued at $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,040 shares of company stock worth $11,937,915. 10.78% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Mizuho cut their price objective on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Benchmark reissued a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. 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 company’s stock. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $85.90.

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.