Santiago Subotovsky Sells 2,475 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $76.78 on Friday. The firm has a 50 day simple moving average of $79.84 and a 200 day simple moving average of $78.10. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market cap of $23.44 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Institutional Trading of Zoom Video Communications

A number of hedge funds have recently modified their holdings of ZM. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in 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 purchasing an additional 258 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Zoom Video Communications during the fourth quarter valued at $30,000. Finally, Colonial Trust Co SC purchased a new position in Zoom Video Communications in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ZM shares. Citigroup reduced their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Morgan Stanley raised their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Stifel Nicolaus decreased their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $89.33.

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.