Mariner LLC Raises Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mariner LLC increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 47.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,654 shares of the company's stock after buying an additional 9,172 shares during the period. Mariner LLC's holdings in Zoom Video Communications were worth $2,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Zoom Video Communications during the fourth quarter valued at approximately $751,908,000. Raymond James Financial Inc. bought a new position in Zoom Video Communications during the 4th quarter valued at $99,471,000. Contrarius Group Holdings Ltd acquired a new stake in Zoom Video Communications in the 4th quarter valued at about $72,854,000. Arrowstreet Capital Limited Partnership boosted its stake 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 worth $81,507,000 after acquiring an additional 780,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Zoom Video Communications by 126.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock worth $102,119,000 after buying an additional 699,625 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 related news, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now directly owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 245,372 shares of company stock worth $19,127,800. Insiders own 10.78% of the company's stock.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded up $0.76 during trading hours on Tuesday, reaching $76.92. The company's stock had a trading volume of 181,446 shares, compared to its average volume of 3,038,082. The stock has a market cap of $23.48 billion, a P/E ratio of 25.61, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a 50 day moving average price of $74.02 and a 200-day moving average price of $78.79.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Wells Fargo & Company cut their price target on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Benchmark restated a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus 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.