Jonathan Chadwick Sells 12,500 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.57, for a total transaction of $907,125.00. Following the completion of the transaction, the director now owns 1,514 shares in the company, valued at $109,870.98. This represents a 89.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $71.49 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The business has a 50 day simple moving average of $75.34 and a 200 day simple moving average of $78.45.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZM. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. UBS Group reduced their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Barclays cut their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Citigroup cut their price objective on 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. Finally, Mizuho decreased their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $86.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MML Investors Services LLC lifted its holdings in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after purchasing an additional 132 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Zoom Video Communications in the 3rd quarter worth approximately $201,000. Sanctuary Advisors LLC boosted its holdings in shares of Zoom Video Communications by 22.1% in the third quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after acquiring an additional 2,714 shares in the last quarter. Tri Ri Asset Management Corp acquired a new position in shares of Zoom Video Communications during the third quarter valued at approximately $2,653,000. Finally, Franklin Resources Inc. raised its holdings in Zoom Video Communications by 53.6% during the third quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock worth $22,537,000 after purchasing an additional 115,837 shares in the last quarter. 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.