Santiago Subotovsky Sells 2,475 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now directly owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Zoom Video Communications Stock Down 1.3 %

NASDAQ ZM opened at $76.78 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The business has a 50 day moving average price of $79.84 and a two-hundred day moving average price of $78.10. The stock has a market cap of $23.44 billion, a PE ratio of 25.59, a P/E/G ratio of 5.48 and a beta of 0.26.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Scotiabank dropped their price target on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Barclays dropped their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Citigroup cut their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley lifted their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.33.

Institutional Investors Weigh In On Zoom Video Communications

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Zoom Video Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after buying an additional 282,645 shares in the last quarter. Norges Bank bought a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $751,908,000. AQR Capital Management LLC boosted its position in Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after purchasing an additional 373,509 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock worth $521,123,000 after buying an additional 1,247,717 shares during the last quarter. Finally, State Street Corp increased its position in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after buying an additional 134,559 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

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.