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

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $68.59, for a total transaction of $721,566.80.

Zoom Video Communications Stock Down 0.6 %

ZM stock opened at $79.46 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $24.35 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 5.29 and a beta of -0.01. The business’s fifty day moving average is $82.96 and its 200-day moving average is $71.01.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at $37,000. Allworth Financial LP lifted its holdings 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 acquiring an additional 180 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after acquiring an additional 274 shares during the period. GAMMA Investing LLC increased its holdings in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares in the last quarter. Finally, True Wealth Design LLC raised its position in shares of 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 during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Morgan Stanley lifted their target price 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. Barclays increased their price target on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Finally, Wedbush initiated coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.81.

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.