Aparna Bawa Sells 21,968 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 21,968 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $60.18, for a total value of $1,322,034.24. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $119,036.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Zoom Video Communications stock opened at $61.62 on Wednesday. The firm has a market capitalization of $18.95 billion, a P/E ratio of 30.21 and a beta of -0.07. The business’s fifty day simple moving average is $64.68 and its 200 day simple moving average is $65.87. 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 released its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. Analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ZM shares. Piper Sandler upped their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Mizuho dropped their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, April 18th. Jefferies Financial Group began coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price on the stock. Finally, Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $77.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pearl River Capital LLC lifted its position in shares of Zoom Video Communications by 31.6% during the 3rd quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after buying an additional 8,928 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Zoom Video Communications by 3.4% in the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock worth $32,231,000 after purchasing an additional 14,945 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Zoom Video Communications by 15.9% in the third quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,826 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares during the period. Finally, Galvin Gaustad & Stein LLC lifted its stake in shares of Zoom Video Communications by 25.4% during the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after buying an additional 66,433 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.