Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Velchamy Sankarlingam Sells 11,839 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 11,839 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the transaction, the insider now owns 125,529 shares in the company, valued at $9,026,790.39. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $71.49 on Friday. The company has a market capitalization of $21.82 billion, a P/E ratio of 23.83, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a 50-day simple moving average of $75.59 and a 200-day simple moving average of $78.43.

Analysts Set New Price Targets

ZM has been the topic of a number of research reports. Citigroup decreased their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Scotiabank lowered their price objective on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. 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. Finally, Morgan Stanley cut their price objective on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating for the company in a research report on Wednesday. Fifteen investment 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, the company has an average rating of “Hold” and an average target price of $86.62.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after acquiring an additional 282,645 shares during the period. Norges Bank purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $751,908,000. AQR Capital Management LLC raised its stake in Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after acquiring an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Zoom Video Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Zoom Video Communications by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company’s stock valued at $377,429,000 after purchasing an additional 28,725 shares during the period. Hedge funds and other 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.