Santiago Subotovsky Sells 193 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Santiago Subotovsky sold 193 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $82.90, for a total value of $15,999.70. Following the sale, the director now directly owns 171,927 shares of the company's stock, valued at $14,252,748.30. This represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zoom Video Communications Stock Down 0.1 %

ZM stock traded down $0.07 during trading on Tuesday, reaching $78.13. The stock had a trading volume of 1,586,158 shares, compared to its average volume of 3,042,087. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company's 50 day moving average is $79.95 and its two-hundred day moving average is $78.11. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 5.48 and a beta of 0.26.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Sanford C. Bernstein increased their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 26th. Scotiabank cut their price objective on shares of 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. The Goldman Sachs Group boosted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Citigroup cut their price target on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Zoom Video Communications has a consensus rating of "Hold" and an average target price of $89.33.

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Institutional Trading of Zoom Video Communications

A number of institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC raised its stake 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 worth $4,429,000 after purchasing an additional 52,039 shares during the period. Merit Financial Group LLC purchased a new position in Zoom Video Communications in the fourth quarter valued at about $1,072,000. Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications during the 3rd quarter valued at approximately $62,038,000. State Street Corp increased its stake in shares of Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after purchasing an additional 134,559 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock worth $64,054,000 after purchasing an additional 521,778 shares during the period. 66.54% of the stock is owned by hedge funds and other 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.