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 the business’s stock in a transaction on Monday, March 24th. The shares were 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 $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zoom Video Communications Stock Down 0.4 %

Shares of Zoom Video Communications stock traded down $0.35 during mid-day trading on Wednesday, reaching $77.78. 1,314,393 shares of the stock traded hands, compared to its average volume of 3,034,582. The stock has a market capitalization of $23.74 billion, a PE ratio of 25.93, a PEG ratio of 5.48 and a beta of 0.26. The business has a 50-day moving average of $79.90 and a 200 day moving average of $78.10. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America boosted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Scotiabank dropped their target price on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Benchmark reissued a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.33.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Zoom Video Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after purchasing an additional 282,645 shares during the last quarter. Norges Bank acquired a new position in Zoom Video Communications during the fourth quarter worth about $751,908,000. AQR Capital Management LLC boosted its position in 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 worth $615,237,000 after acquiring an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in 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 acquiring an additional 1,247,717 shares during the last quarter. Finally, State Street Corp lifted its stake in Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares in the last quarter. 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.