Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa Sells 9,317 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, October 14th, Aparna Bawa sold 10,520 shares of Zoom Video Communications stock. The stock was sold at an average price of $68.59, for a total value of $721,566.80.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded down $0.44 during trading on Friday, hitting $79.46. 2,750,285 shares of the company’s stock were exchanged, compared to its average volume of 2,265,364. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 5.29 and a beta of -0.01. The business’s 50-day simple moving average is $82.96 and its 200 day simple moving average is $70.91. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZM shares. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. Morgan Stanley lifted their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus lifted their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $87.81.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds have recently made changes to their positions in ZM. Truvestments Capital LLC acquired a new stake in Zoom Video Communications during the third quarter worth about $37,000. Allworth Financial LP boosted its position in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares in the last quarter. GAMMA Investing LLC boosted its position in Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in Zoom Video Communications by 10,763.6% during the third quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $83,000 after purchasing an additional 1,184 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.