Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells 193 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 193 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $82.90, for a total value of $15,999.70. Following the sale, the director now directly owns 171,927 shares in the company, valued at $14,252,748.30. This trade represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $75.97 on Friday. The firm has a market cap of $23.19 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The stock’s 50-day moving average is $79.98 and its two-hundred day moving average is $77.88. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Zoom Video Communications during the 4th quarter worth $751,908,000. FMR LLC lifted its position in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. Altshuler Shaham Ltd boosted its stake in Zoom Video Communications by 285.9% during the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock valued at $167,813,000 after purchasing an additional 1,523,480 shares during the period. T. Rowe Price Investment Management Inc. grew 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 buying an additional 1,247,717 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Zoom Video Communications in the 4th quarter worth approximately $99,471,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZM has been the topic of several recent analyst reports. Sanford C. Bernstein boosted their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Barclays decreased their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday. Finally, Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price target for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Fifteen research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.