Zoom Video Communications, Inc. (NASDAQ:ZM) Short Interest Update

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,510,000 shares, an increase of 27.4% from the August 15th total of 8,250,000 shares. Based on an average daily volume of 3,540,000 shares, the short-interest ratio is presently 3.0 days.

Zoom Video Communications Stock Performance

Shares of ZM traded up $1.04 during midday trading on Friday, hitting $67.59. The company had a trading volume of 2,061,795 shares, compared to its average volume of 4,687,084. The company's 50-day simple moving average is $61.69 and its 200-day simple moving average is $62.37. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $74.77. The firm has a market capitalization of $20.80 billion, a P/E ratio of 25.22, a P/E/G ratio of 5.84 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. Equities analysts predict that Zoom Video Communications will post 2.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 2,420 shares of the business's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the completion of the transaction, the chief executive officer now owns 90,354 shares of the company's stock, valued at approximately $5,070,666.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the completion of the transaction, the chief executive officer now directly owns 90,354 shares of the company's stock, valued at approximately $5,070,666.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 11,060 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total transaction of $632,079.00. Following the sale, the chief operating officer now directly owns 12,310 shares in the company, valued at $703,516.50. The disclosure for this sale can be found here. Insiders sold a total of 120,014 shares of company stock valued at $7,070,162 over the last 90 days. Insiders own 10.78% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ZM. Private Advisor Group LLC acquired a new position in Zoom Video Communications during the fourth quarter worth approximately $345,000. Principal Securities Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $25,000. Dimensional Fund Advisors LP raised its position in Zoom Video Communications by 30.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,033,500 shares of the company's stock valued at $74,332,000 after purchasing an additional 242,944 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Zoom Video Communications during the 4th quarter worth $780,000. Finally, Quadrant Capital Group LLC grew its position in Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company's stock worth $26,000 after purchasing an additional 267 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ZM. Citigroup boosted their target price on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 21st. Rosenblatt Securities restated a "buy" rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Sanford C. Bernstein dropped their price target on Zoom Video Communications from $82.00 to $78.00 and set a "market perform" rating for the company in a research report on Tuesday, May 21st. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Finally, UBS Group raised shares of Zoom Video Communications to a "hold" rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $75.10.

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.