Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) COO Sells $955,736.25 in Stock

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

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 stock was sold at an average price of $78.69, for a total value of $733,154.73.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $78.07 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a market cap of $23.93 billion, a PE ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01. The stock’s 50-day moving average is $82.98 and its 200 day moving average is $71.63.

Analyst Upgrades and Downgrades

A number of analysts have commented on ZM shares. Piper Sandler boosted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Sanford C. Bernstein upped their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald started coverage on Zoom Video Communications in a report on Friday. They issued a “neutral” rating and a $87.00 target price for the company. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $89.10.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZM. Pacer Advisors Inc. boosted its position in Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after acquiring an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares in the last quarter. FMR LLC boosted its position in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Zoom Video Communications in the 3rd quarter worth approximately $62,038,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after purchasing an additional 699,625 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.