Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells $186,689.25 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $75.43, for a total value of $186,689.25. Following the completion of the transaction, the director now directly owns 160,299 shares in the company, valued at $12,091,353.57. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Zoom Video Communications Price Performance

NASDAQ ZM opened at $76.16 on Tuesday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The company’s fifty day moving average price is $74.02 and its two-hundred day moving average price is $78.79.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Tri Ri Asset Management Corp bought a new position in shares of Zoom Video Communications in the 3rd quarter worth about $2,653,000. Franklin Resources Inc. lifted its position in shares of Zoom Video Communications by 53.6% in the 3rd quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock worth $22,537,000 after buying an additional 115,837 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock worth $63,031,000 after buying an additional 293,375 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Zoom Video Communications by 53.0% in the 4th quarter. Versant Capital Management Inc now owns 1,509 shares of the company’s stock worth $123,000 after buying an additional 523 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after buying an additional 164 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ZM. Wells Fargo & Company dropped their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Scotiabank dropped their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Monday, March 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.90.

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.