Aparna Bawa Sells 16,099 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 16,099 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $143,583.02. This trade represents a 89.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Zoom Video Communications Stock Up 0.4 %

ZM opened at $71.49 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a fifty day moving average of $75.34 and a 200-day moving average of $78.45. The stock has a market cap of $21.82 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Analyst Ratings Changes

ZM has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Citigroup decreased their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Morgan Stanley reduced their price objective on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $86.62.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ZM. MML Investors Services LLC grew its stake in Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after purchasing an additional 132 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth approximately $201,000. Sanctuary Advisors LLC increased its stake in shares of Zoom Video Communications by 22.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after acquiring an additional 2,714 shares in the last quarter. Tri Ri Asset Management Corp acquired a new position in shares of Zoom Video Communications during the 3rd quarter valued at $2,653,000. Finally, Franklin Resources Inc. boosted its stake in Zoom Video Communications by 53.6% during the third quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock worth $22,537,000 after acquiring an additional 115,837 shares in the last quarter. 66.54% of the stock is owned by 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.