Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa Sells 10,871 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 10,871 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $68.12, for a total transaction of $740,532.52. Following the completion of the transaction, the chief operating officer now owns 12,498 shares in the company, valued at approximately $851,363.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 10th, Aparna Bawa sold 831 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99.
• On Thursday, September 5th, Aparna Bawa sold 880 shares of Zoom Video Communications stock. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20.
• On Thursday, July 18th, Aparna Bawa sold 10,332 shares of Zoom Video Communications stock. The shares were sold at an average price of $56.81, for a total transaction of $586,960.92.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded up $0.88 during midday trading on Thursday, reaching $70.85. The stock had a trading volume of 4,965,073 shares, compared to its average volume of 3,299,048. The stock has a 50-day moving average of $65.14 and a 200-day moving average of $62.42. The company has a market capitalization of $21.91 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 5.92 and a beta of -0.04. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. Zoom Video Communications’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Piper Sandler reduced their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Finally, Benchmark upped their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.05.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new position in Zoom Video Communications during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications in the 2nd quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications in the 2nd quarter worth about $41,000. Versant Capital Management Inc lifted its holdings in shares of Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after acquiring an additional 893 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Zoom Video Communications by 69.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after purchasing an additional 692 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.