Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells $192,703.50 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Zoom Video Communications Trading Down 2.5 %

Shares of NASDAQ ZM opened at $74.84 on Friday. The stock has a market capitalization of $22.84 billion, a PE ratio of 24.95, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a fifty day simple moving average of $79.78 and a 200-day simple moving average of $78.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Stifel Nicolaus cut their price target 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 set a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. 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 company. According to MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $89.33.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors have recently bought and sold shares of the company. Adero Partners LLC lifted its position in shares of Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after purchasing an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after buying an additional 131 shares in the last quarter. MML Investors Services LLC boosted its position in Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after buying an additional 132 shares during the period. MetLife Investment Management LLC grew its stake in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

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.