Zoom Video Communications, Inc. (NASDAQ:ZM) COO Sells $59,919.20 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 880 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the transaction, the chief operating officer now directly owns 2,809 shares in the company, valued at approximately $191,264.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Aparna Bawa also recently made the following trade(s):

• On Thursday, July 18th, Aparna Bawa sold 10,332 shares of Zoom Video Communications stock. The stock was sold at an average price of $56.81, for a total value of $586,960.92.
• On Tuesday, July 9th, Aparna Bawa sold 11,060 shares of Zoom Video Communications stock. The shares were sold at an average price of $57.15, for a total value of $632,079.00.

Zoom Video Communications Trading Down 0.1 %

Shares of NASDAQ:ZM opened at $67.18 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.82. The company has a market cap of $20.68 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 5.98 and a beta of -0.05. The stock has a 50 day moving average of $60.85 and a 200 day moving average of $62.25.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Equities research analysts predict that Zoom Video Communications, Inc. will post 2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its position in shares of Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after acquiring an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC lifted its stake in 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. Norges Bank bought a new position in shares of Zoom Video Communications during the 4th quarter valued at about $164,224,000. Acadian Asset Management LLC grew its position in shares of Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after purchasing an additional 1,855,679 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Zoom Video Communications by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after purchasing an additional 721,923 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZM. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Citigroup boosted their target price on Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Evercore ISI lowered their price target on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, May 21st. Finally, Wells Fargo & Company raised their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average price target of $75.10.

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.