Zoom Video Communications, Inc. (NASDAQ:ZM) COO Sells $1,322,034.24 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 21,968 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $119,036.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Aparna Bawa also recently made the following trade(s):

• On Monday, March 18th, Aparna Bawa sold 816 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60.

Zoom Video Communications Trading Up 3.5 %

Shares of NASDAQ ZM opened at $61.62 on Wednesday. The company has a 50 day simple moving average of $64.68 and a two-hundred day simple moving average of $65.87. The stock has a market cap of $18.95 billion, a price-to-earnings ratio of 30.21 and a beta of -0.07. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. Analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Institutional Trading of Zoom Video Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares during the period. ARK Investment Management LLC increased its holdings in shares of Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after purchasing an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Zoom Video Communications by 3.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after purchasing an additional 216,768 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in Zoom Video Communications by 4.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock worth $434,785,000 after buying an additional 233,321 shares in the last quarter. Finally, FIL Ltd grew its position in Zoom Video Communications by 1.3% during the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after buying an additional 40,456 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZM has been the topic of several recent analyst reports. BNP Paribas downgraded shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target on the stock. in a research note on Thursday, January 18th. Mizuho decreased their price target on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Jefferies Financial Group initiated coverage on Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective on the stock. Finally, Piper Sandler upped their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $77.56.

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.