Zoom Video Communications, Inc. (NASDAQ:ZM) Short Interest Down 26.7% in February

Zoom Video Communications, Inc. (NASDAQ:ZM) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 6,680,000 shares, a decrease of 26.7% from the February 13th total of 9,110,000 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily trading volume, of 2,750,000 shares, the short-interest ratio is presently 2.4 days.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 75,531 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the sale, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 369,271 shares of company stock valued at $29,496,892. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently bought and sold shares of the stock. Global X Japan Co. Ltd. increased its holdings in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Zoom Video Communications during the fourth quarter worth approximately $30,000. Finally, Colonial Trust Co SC acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group boosted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Morgan Stanley raised their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Bank of America upped their price objective 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. Finally, Benchmark reaffirmed a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Stock Up 2.7 %

Shares of ZM stock opened at $74.20 on Monday. The firm has a 50 day moving average of $80.44 and a two-hundred day moving average of $77.72. The stock has a market capitalization of $22.65 billion, a PE ratio of 24.73, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

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.