10,000 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Purchased by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, HoldingsChannel reports. The firm bought 10,000 shares of the company’s stock, valued at approximately $816,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in Zoom Video Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank bought a new position in Zoom Video Communications in the fourth quarter worth about $751,908,000. AQR Capital Management LLC lifted its position in shares of Zoom Video Communications by 5.2% during the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after buying an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Zoom Video Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after buying an additional 1,247,717 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Zoom Video Communications by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company’s stock valued at $377,429,000 after buying an additional 28,725 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $83.18 on Wednesday. The stock has a market capitalization of $25.39 billion, a P/E ratio of 27.73, a P/E/G ratio of 5.48 and a beta of 0.79. The company’s fifty day moving average price is $74.63 and its 200 day moving average price is $79.38. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Mizuho dropped their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Barclays decreased their price target 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. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $85.90.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 11,839 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the transaction, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $78.82, for a total transaction of $195,079.50. Following the completion of the sale, the director now owns 157,824 shares of the company’s stock, valued at approximately $12,439,687.68. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock worth $12,132,994 in the last 90 days. 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.