Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky Sells 2,475 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $75.43, for a total value of $186,689.25. Following the completion of the transaction, the director now directly owns 160,299 shares of the company's stock, valued at approximately $12,091,353.57. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Santiago Subotovsky also recently made the following trade(s):

• On Monday, March 24th, Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock. The stock was sold at an average price of $77.86, for a total value of $192,703.50.

Zoom Video Communications Stock Up 1.3 %

ZM traded up $0.99 during midday trading on Friday, reaching $78.24. The company had a trading volume of 950,952 shares, compared to its average volume of 3,031,852. The business has a 50-day moving average of $73.73 and a two-hundred day moving average of $78.83. The company has a market cap of $23.88 billion, a P/E ratio of 26.09, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently modified their holdings of the company. Global X Japan Co. Ltd. boosted its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Zoom Video Communications in the first quarter worth about $25,000. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after buying an additional 258 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in Zoom Video Communications during the 4th quarter valued at approximately $30,000. 66.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ZM has been the topic of a number of recent analyst reports. Scotiabank decreased their target price on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. Stifel Nicolaus cut their price objective on 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. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. Finally, Wells Fargo & Company cut their target price on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $85.90.

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.