Zoom Video Communications, Inc. (NASDAQ:ZM) COO Sells $1,322,034.24 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 21,968 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total value of $1,322,034.24. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $119,036.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, March 18th, Aparna Bawa sold 816 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.60, for a total value of $54,345.60.

Zoom Video Communications Stock Performance

Shares of ZM opened at $61.65 on Thursday. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 30.22 and a beta of -0.07. The business’s fifty day moving average price is $64.63 and its two-hundred day moving average price is $65.84. Zoom Video Communications, Inc. has a 52 week low of $58.87 and a 52 week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZM. Jefferies Financial Group began coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. Mizuho dropped their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Finally, Piper Sandler increased their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $77.56.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZM. International Assets Investment Management LLC boosted its position in shares of Zoom Video Communications by 12.8% in the 3rd quarter. International Assets Investment Management LLC now owns 9,906 shares of the company’s stock worth $667,000 after purchasing an additional 1,126 shares during the last quarter. CWM LLC lifted its holdings in Zoom Video Communications by 96.2% during the third quarter. CWM LLC now owns 2,975 shares of the company’s stock worth $208,000 after acquiring an additional 1,459 shares in the last quarter. AE Wealth Management LLC bought a new position in Zoom Video Communications during the third quarter worth about $219,000. DnB Asset Management AS lifted its holdings in Zoom Video Communications by 52.0% during the third quarter. DnB Asset Management AS now owns 60,812 shares of the company’s stock worth $4,253,000 after acquiring an additional 20,801 shares in the last quarter. Finally, Summit Global Investments bought a new position in Zoom Video Communications during the third quarter worth about $204,000. 66.54% of the stock is currently owned by 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.