Archon Capital Management LLC Purchases Shares of 26,000 Zoom Video Communications, Inc. (NASDAQ:ZM)

Archon Capital Management LLC purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,000 shares of the company’s stock, valued at approximately $2,122,000. Zoom Video Communications accounts for about 2.1% of Archon Capital Management LLC’s investment portfolio, making the stock its 17th largest position.

Other hedge funds also recently modified their holdings of the company. MML Investors Services LLC grew its position in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Zoom Video Communications during the third quarter worth $201,000. Nomura Asset Management Co. Ltd. raised its stake in Zoom Video Communications by 9.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 72,017 shares of the company’s stock valued at $5,022,000 after acquiring an additional 5,955 shares during the period. Public Employees Retirement System of Ohio lifted its position in Zoom Video Communications by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 96,915 shares of the company’s stock worth $6,759,000 after acquiring an additional 817 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Zoom Video Communications by 4.2% in the third 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. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $71.34 on Friday. The stock has a fifty day simple moving average of $76.77 and a two-hundred day simple moving average of $78.43. The firm has a market capitalization of $21.78 billion, a PE ratio of 23.78, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stifel Nicolaus cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Morgan Stanley raised their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Citigroup cut their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 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’s stock. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $89.33.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 12,075 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $79.15, for a total value of $955,736.25. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $156,558.70. The trade was a 85.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 316,449 shares of company stock valued at $25,338,274. Corporate insiders own 10.78% of the company’s stock.

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.