Sciencast Management LP Takes $1.51 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Sciencast Management LP acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,529 shares of the company’s stock, valued at approximately $1,512,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC lifted its position in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after acquiring an additional 52,039 shares in the last quarter. Merit Financial Group LLC acquired a new position in Zoom Video Communications during the 4th quarter worth approximately $1,072,000. State Street Corp lifted its position in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after acquiring an additional 134,559 shares in the last quarter. Nordea Investment Management AB lifted its position in Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after acquiring an additional 521,778 shares in the last quarter. Finally, Tri Ri Asset Management Corp acquired a new position in Zoom Video Communications during the 3rd quarter worth approximately $2,676,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $75.97 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a fifty day moving average of $79.98 and a two-hundred day moving average of $77.88. The firm has a market capitalization of $23.19 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Insiders Place Their Bets

In other news, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the sale, the director now owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 33,751 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the completion of the sale, the chief executive officer now owns 34,703 shares of the company’s stock, valued at approximately $2,730,779.07. This trade represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ZM. Sanford C. Bernstein upped their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Barclays cut their target price on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Mizuho upped their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Finally, Scotiabank lowered their price target on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.33.

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.