Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) COO Sells 12,075 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 12,075 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $79.15, for a total value of $955,736.25. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $156,558.70. This trade represents a 85.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, January 10th, Aparna Bawa sold 9,317 shares of Zoom Video Communications stock. The shares were sold at an average price of $78.69, for a total value of $733,154.73.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $78.07 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $23.93 billion, a PE ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01. The stock has a fifty day simple moving average of $82.98 and a two-hundred day simple moving average of $71.63.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently bought and sold shares of the business. Baker Avenue Asset Management LP increased its stake in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after buying an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Zoom Video Communications in the 2nd quarter worth $763,000. HighTower Advisors LLC boosted its holdings in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after purchasing an additional 167,618 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications during the 3rd quarter valued at about $62,038,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZM shares. Bank of America boosted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, November 22nd. Finally, Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a research note on Friday. They set a “neutral” rating and a $87.00 target price for the company. Sixteen 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 data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $89.10.

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.