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

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $80.67, for a total transaction of $199,658.25. Following the completion of the sale, the director now owns 155,349 shares in the company, valued at $12,532,003.83. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, May 5th, Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock. The shares were sold at an average price of $78.82, for a total transaction of $195,079.50.
• On Thursday, April 24th, Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock. The shares were sold at an average price of $75.43, for a total transaction of $186,689.25.
• On Monday, March 24th, Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50.

Zoom Video Communications Trading Down 1.2%

Shares of Zoom Video Communications stock traded down $0.98 during mid-day trading on Friday, reaching $80.35. 2,342,615 shares of the stock were exchanged, compared to its average volume of 2,972,318. The company has a market cap of $24.31 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71. The firm has a 50-day simple moving average of $76.82 and a 200 day simple moving average of $79.64. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.35 EPS. On average, research analysts predict that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adero Partners LLC grew its position in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock worth $450,000 after buying an additional 129 shares during the period. Smartleaf Asset Management LLC boosted its stake in Zoom Video Communications by 6.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company's stock worth $172,000 after acquiring an additional 143 shares during the last quarter. Wynn Capital LLC boosted its stake in Zoom Video Communications by 1.6% during the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after acquiring an additional 160 shares during the last quarter. Principal Securities Inc. boosted its stake in Zoom Video Communications by 26.9% during the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock worth $64,000 after acquiring an additional 166 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Zoom Video Communications by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Analysts Set New Price Targets

ZM has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, May 22nd. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 target price on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Scotiabank boosted their target price on shares of Zoom Video Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Zoom Video Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $87.00.

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.