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 the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the sale, the director now directly owns 157,824 shares of the company’s stock, valued at approximately $12,439,687.68. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Santiago Subotovsky also recently made the following trade(s):

• On Thursday, April 24th, Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock. The stock was sold at an average price of $75.43, for a total transaction of $186,689.25.
• On Monday, March 24th, Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $81.31 on Friday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 5.48 and a beta of 0.79. The stock has a 50 day simple moving average of $74.34 and a 200-day simple moving average of $79.19.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ZM shares. Benchmark reissued a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Barclays cut their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.90.

Hedge Funds Weigh In On Zoom Video Communications

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Zoom Video Communications by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock worth $1,829,249,000 after purchasing an additional 624,863 shares in the last quarter. FMR LLC boosted its holdings in Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after buying an additional 282,645 shares during the last quarter. Norges Bank purchased a new stake in Zoom Video Communications during the 4th quarter worth approximately $751,908,000. AQR Capital Management LLC raised its holdings in shares of Zoom Video Communications by 5.2% during the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after acquiring an additional 373,509 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Zoom Video Communications by 24.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after acquiring an additional 1,247,717 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.