Gotham Asset Management LLC Buys 2,048 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Gotham Asset Management LLC grew its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,804 shares of the company’s stock after buying an additional 2,048 shares during the period. Gotham Asset Management LLC’s holdings in Zoom Video Communications were worth $5,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $1,072,000. Swedbank AB raised its position in shares of Zoom Video Communications by 96.3% during the fourth quarter. Swedbank AB now owns 82,247 shares of the company’s stock worth $6,712,000 after purchasing an additional 40,351 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Zoom Video Communications by 8.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company’s stock worth $7,868,000 after purchasing an additional 7,518 shares during the period. Silver Lake Advisory LLC raised its position in shares of Zoom Video Communications by 13.3% during the fourth quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company’s stock worth $3,291,000 after purchasing an additional 4,745 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Zoom Video Communications by 126.8% during the fourth 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 during the period. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of recent research reports. UBS Group dropped their target price on 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 dropped their target price on 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. Mizuho dropped their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Scotiabank dropped their target price on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Fifteen 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’s stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $85.90.

Insider Buying and Selling

In related news, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the transaction, the director now directly owns 157,824 shares of the company’s stock, valued at approximately $12,439,687.68. The trade was a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,515 shares of company stock valued at $12,132,994. 10.78% of the stock is owned by insiders.

Zoom Video Communications Trading Up 0.6%

ZM stock opened at $83.18 on Wednesday. The firm has a market capitalization of $25.39 billion, a PE ratio of 27.73, a PEG 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 business’s 50 day simple moving average is $74.63 and its 200 day simple moving average is $79.38.

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.