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 firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Zoom Video Communications Trading Down 0.4 %

NASDAQ ZM opened at $77.78 on Thursday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business’s 50-day moving average price is $79.90 and its two-hundred day moving average price is $78.10. The firm has a market capitalization of $23.74 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Scotiabank lowered their target price on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Monday, March 17th. Stifel Nicolaus decreased their price target on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Fifteen research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $89.33.

Institutional Investors Weigh In On Zoom Video Communications

Several large investors have recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. increased its holdings in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares during the period. Raiffeisen Bank International AG purchased a new stake in Zoom Video Communications during the fourth quarter valued at about $30,000. Finally, Colonial Trust Co SC bought a new position in shares of Zoom Video Communications in the fourth quarter worth $32,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.