Archon Capital Management LLC Purchases New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Archon Capital Management LLC bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 26,000 shares of the company's stock, valued at approximately $2,122,000. Zoom Video Communications makes up approximately 2.1% of Archon Capital Management LLC's portfolio, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MML Investors Services LLC boosted its stake in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock valued at $655,000 after acquiring an additional 132 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Zoom Video Communications in the third quarter valued at about $201,000. Nomura Asset Management Co. Ltd. boosted its holdings in Zoom Video Communications by 9.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 72,017 shares of the company's stock worth $5,022,000 after buying an additional 5,955 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Zoom Video Communications by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 96,915 shares of the company's stock valued at $6,759,000 after buying an additional 817 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock valued at $320,177,000 after acquiring an additional 184,518 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the business'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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,459 shares of company stock valued at $16,014,017. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded up $0.52 during midday trading on Thursday, reaching $71.72. The company had a trading volume of 762,224 shares, compared to its average volume of 2,586,424. The firm has a market cap of $21.89 billion, a PE ratio of 23.91, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a fifty day moving average price of $75.90 and a 200 day moving average price of $78.42.

Analyst Ratings Changes

Several research firms have weighed in on ZM. Wells Fargo & Company raised Zoom Video Communications from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Mizuho decreased their target price on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Rosenblatt Securities reissued a "buy" rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Morgan Stanley reduced their target price on Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a research note on Wednesday. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Zoom Video Communications has an average rating of "Hold" and an average target price of $86.62.

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.