Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky Sells 193 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 193 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $82.90, for a total value of $15,999.70. Following the completion of the sale, the director now directly owns 171,927 shares in the company, valued at $14,252,748.30. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Zoom Video Communications Trading Down 0.1 %

Shares of NASDAQ:ZM opened at $75.97 on Friday. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a 50-day moving average price of $79.98 and a 200 day moving average price of $77.82.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZM. Scotiabank lowered their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. Bank of America increased their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Citigroup cut their target price on 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. Finally, JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. 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, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $89.33.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Global X Japan Co. Ltd. boosted its stake 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 purchasing an additional 190 shares during the period. Avior Wealth Management LLC raised its position in 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 in the last quarter. Parkside Financial Bank & Trust lifted 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 buying an additional 258 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Zoom Video Communications during the 4th quarter worth $30,000. Finally, Colonial Trust Co SC purchased a new position in shares of Zoom Video Communications during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.