Integrated Quantitative Investments LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Integrated Quantitative Investments LLC acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,800 shares of the company’s stock, valued at approximately $392,000.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of Zoom Video Communications by 20.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company’s stock worth $1,125,000 after purchasing an additional 2,714 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing an additional 154 shares during the last quarter. Captrust Financial Advisors increased its holdings in Zoom Video Communications by 67.6% in the third quarter. Captrust Financial Advisors now owns 11,361 shares of the company’s stock valued at $792,000 after buying an additional 4,584 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after acquiring an additional 52,039 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Zoom Video Communications by 31.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 114,173 shares of the company’s stock worth $7,962,000 after purchasing an additional 27,116 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $67.75 on Friday. The company’s fifty day moving average is $79.13 and its two-hundred day moving average is $78.35. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The stock has a market capitalization of $20.68 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Analysts Set New Price Targets

Several research analysts have commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Citigroup cut their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. UBS Group reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.33.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated 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 SEC, which is available at the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the transaction, the director now directly owns 169,452 shares of the company’s stock, 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. Insiders have sold 371,746 shares of company stock valued at $29,689,595 over the last quarter. Insiders own 10.78% of the company’s stock.

About Zoom Video Communications

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.