Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells 2,475 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction 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 in the company, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Zoom Video Communications Trading Down 0.4 %

Shares of ZM stock traded down $0.35 on Wednesday, reaching $77.78. 1,314,393 shares of the stock were exchanged, compared to its average volume of 3,034,582. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 5.48 and a beta of 0.26. The business’s 50 day moving average price is $79.90 and its 200 day moving average price is $78.10.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Stifel Nicolaus decreased their target price 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. Morgan Stanley upped their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Piper Sandler raised their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Citigroup decreased their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.33.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZM. Adero Partners LLC boosted its holdings in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after buying an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares during the period. MML Investors Services LLC grew its stake in Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the last quarter. MetLife Investment Management LLC increased its position in Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after buying an additional 164 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.