AQR Capital Management LLC Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

AQR Capital Management LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,538,744 shares of the company’s stock after buying an additional 373,509 shares during the quarter. Zoom Video Communications comprises about 0.8% of AQR Capital Management LLC’s holdings, making the stock its 7th largest position. AQR Capital Management LLC owned about 2.46% of Zoom Video Communications worth $615,237,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. increased its holdings in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Zoom Video Communications in the 4th quarter worth about $39,000. Finally, MRP Capital Investments LLC grew its stake in shares of Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 11,839 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares of the company’s stock, valued at approximately $9,026,790.39. The trade was a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,372 shares of company stock valued at $19,127,800. 10.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus dropped their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Benchmark reissued a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Mizuho dropped their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company cut their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.90.

Zoom Video Communications Stock Performance

ZM stock opened at $76.16 on Tuesday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market capitalization of $23.25 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 5.48 and a beta of 0.67. The company’s 50 day moving average price is $74.02 and its 200 day moving average price is $78.79.

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.