Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells $907,125.00 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.57, for a total transaction of $907,125.00. Following the completion of the sale, the director now directly owns 1,514 shares in the company, valued at $109,870.98. This trade represents a 89.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Zoom Video Communications Trading Up 0.4 %

Shares of NASDAQ ZM opened at $71.49 on Friday. The stock has a market cap of $21.82 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 5.48 and a beta of 0.67. The stock’s 50-day moving average is $75.59 and its 200 day moving average is $78.43. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Global X Japan Co. Ltd. grew its holdings in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Parkside Financial Bank & Trust grew its stake 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 valued at $29,000 after buying an additional 258 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 291.2% in the fourth 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 period. Raiffeisen Bank International AG purchased a new stake in Zoom Video Communications during the 4th quarter valued at about $30,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Zoom Video Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 246 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ZM shares. Morgan Stanley lowered their target price on Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Mizuho lowered their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Rosenblatt Securities restated a “buy” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.62.

Zoom Video Communications Company 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.