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

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Zoom Video Communications Stock Performance

Shares of ZM stock traded down $1.94 during midday trading on Friday, reaching $74.84. 1,515,267 shares of the company were exchanged, compared to its average volume of 3,102,337. The company's 50 day moving average price is $79.78 and its two-hundred day moving average price is $78.23. The company has a market cap of $22.84 billion, a P/E ratio of 24.95, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZM. Citigroup cut their price target 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. UBS Group cut their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. 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. Royal Bank of Canada restated an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company upgraded Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Fifteen research 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 company's stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of "Hold" and an average target price of $89.33.

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Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently modified their holdings of ZM. Norges Bank acquired a new stake in Zoom Video Communications during the fourth quarter valued at approximately $751,908,000. FMR LLC lifted its position in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after acquiring an additional 2,395,396 shares during the last quarter. Altshuler Shaham Ltd lifted its position in shares of Zoom Video Communications by 285.9% during the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock valued at $167,813,000 after acquiring an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 acquiring an additional 1,247,717 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter worth $99,471,000. Institutional investors own 66.54% of the company's stock.

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.