Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa Sells 16,099 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 16,099 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $143,583.02. The trade was a 89.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $71.49 on Friday. The stock has a market capitalization of $21.82 billion, a P/E ratio of 23.83, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock’s 50-day simple moving average is $75.34 and its 200 day simple moving average is $78.45.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus dropped their price objective 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. Mizuho lowered their price objective on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Barclays dropped their price objective on 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. Finally, Benchmark reiterated a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. 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 presently has an average rating of “Hold” and a consensus price target of $86.62.

Institutional Trading of Zoom Video Communications

A number of institutional investors have recently modified their holdings of ZM. Merit Financial Group LLC purchased a new position in Zoom Video Communications in the 4th quarter valued at approximately $1,072,000. Nordea Investment Management AB boosted its holdings in shares of Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after acquiring an additional 521,778 shares during the period. Retirement Systems of Alabama raised its stake in shares of Zoom Video Communications by 48.1% during the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock valued at $63,031,000 after purchasing an additional 293,375 shares during the period. Swedbank AB raised its stake in shares of Zoom Video Communications by 96.3% during the 4th quarter. Swedbank AB now owns 82,247 shares of the company’s stock valued at $6,712,000 after purchasing an additional 40,351 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in Zoom Video Communications by 8.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company’s stock worth $7,868,000 after purchasing an additional 7,518 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.