Sterling Capital Management LLC Buys 5,593 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Sterling Capital Management LLC lifted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 55.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,630 shares of the company’s stock after acquiring an additional 5,593 shares during the quarter. Sterling Capital Management LLC’s holdings in Zoom Video Communications were worth $1,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quinn Opportunity Partners LLC purchased a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $17,567,000. Treasurer of the State of North Carolina grew its stake in Zoom Video Communications by 6.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 152,340 shares of the company’s stock valued at $12,432,000 after purchasing an additional 9,667 shares during the period. APG Asset Management US Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter valued at $640,000. Martingale Asset Management L P raised its stake in shares of Zoom Video Communications by 5.3% during the 4th quarter. Martingale Asset Management L P now owns 319,147 shares of the company’s stock worth $26,046,000 after purchasing an additional 16,053 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in shares of Zoom Video Communications by 1,127.7% in the 4th quarter. APG Asset Management N.V. now owns 157,083 shares of the company’s stock worth $12,380,000 after buying an additional 144,288 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ZM shares. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. UBS Group lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Benchmark reissued a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Mizuho dropped their price target on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.71.

Zoom Video Communications Price Performance

Shares of ZM opened at $72.40 on Wednesday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market capitalization of $22.10 billion, a P/E ratio of 24.13, a P/E/G ratio of 5.48 and a beta of 0.67. The firm’s 50 day simple moving average is $76.20 and its 200 day simple moving average is $78.47.

Insider Transactions at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now owns 169,452 shares in the company, valued at $13,193,532.72. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was 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. Insiders have sold 161,338 shares of company stock valued at $13,045,903 in the last quarter. 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.