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

Zoom Video Communications, Inc. (NASDAQ:ZM) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 6,680,000 shares, a decline of 26.7% from the February 13th total of 9,110,000 shares. Based on an average daily trading volume, of 2,750,000 shares, the short-interest ratio is presently 2.4 days. Approximately 2.4% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares in the company, valued at approximately $9,266,534.40. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock valued at $29,496,892 over the last quarter. Company insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Adero Partners LLC grew its holdings in Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after purchasing an additional 129 shares during the period. Itau Unibanco Holding S.A. grew its stake in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after buying an additional 131 shares during the period. MML Investors Services LLC increased its holdings in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares during the period. Finally, MetLife Investment Management LLC grew its position in Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $74.20 on Monday. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a 50 day simple moving average of $80.44 and a 200-day simple moving average of $77.72. The firm has a market cap of $22.65 billion, a PE ratio of 24.73, a P/E/G ratio of 5.48 and a beta of 0.26.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ZM. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Stifel Nicolaus dropped 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 note on Tuesday, February 25th. Rosenblatt Securities restated a “buy” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Citigroup dropped their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen research 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 stock. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $90.05.

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.