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 firm’s 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 completion of the transaction, the director now directly owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Zoom Video Communications Trading Down 2.5 %

Shares of ZM opened at $74.84 on Friday. The firm has a market cap of $22.84 billion, a P/E ratio of 24.95, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock’s 50 day moving average is $79.78 and its two-hundred day moving average is $78.15.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in Zoom Video Communications by 449.4% during the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after acquiring an additional 52,039 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $1,072,000. State Street Corp increased its stake in shares of Zoom Video Communications by 2.3% during the third 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. Nordea Investment Management AB raised its position in shares of Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after purchasing an additional 521,778 shares during the last quarter. Finally, Tri Ri Asset Management Corp purchased a new position in Zoom Video Communications in the 3rd quarter valued at about $2,676,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. UBS Group decreased their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Morgan Stanley raised their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus dropped their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $89.33.

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.