9,070 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,070 shares of the company's stock, valued at approximately $740,000.

Several other hedge funds also recently modified their holdings of ZM. Norges Bank acquired a new position in shares of Zoom Video Communications during the fourth quarter valued at $751,908,000. Raymond James Financial Inc. acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $99,471,000. Contrarius Group Holdings Ltd acquired a new stake in Zoom Video Communications during the 4th quarter worth $72,854,000. Arrowstreet Capital Limited Partnership raised its position in shares of Zoom Video Communications by 357.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company's stock valued at $81,507,000 after acquiring an additional 780,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Zoom Video Communications by 126.8% in the 4th 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 last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Activity

In other news, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at $143,583.02. This represents a 89.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 242,897 shares of company stock worth $18,941,111. Insiders own 10.78% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on ZM shares. Benchmark reaffirmed a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Mizuho reduced their target price on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus dropped their price target 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. Barclays lowered their target price on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered their price objective on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $86.14.

Zoom Video Communications Trading Up 1.7 %

ZM stock traded up $1.20 during mid-day trading on Tuesday, hitting $71.69. The stock had a trading volume of 295,944 shares, compared to its average volume of 3,067,180. The firm has a market capitalization of $21.88 billion, a P/E ratio of 23.93, a P/E/G ratio of 5.48 and a beta of 0.67. The firm has a fifty day simple moving average of $75.09 and a 200 day simple moving average of $78.62. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Zoom Video Communications 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.