Zoom Video Communications, Inc. (NASDAQ:ZM) Short Interest Update

Zoom Video Communications, Inc. (NASDAQ:ZM) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 10,510,000 shares, a growth of 27.4% from the August 15th total of 8,250,000 shares. Based on an average daily volume of 3,540,000 shares, the days-to-cover ratio is currently 3.0 days.

Zoom Video Communications Stock Up 1.6 %

Shares of ZM opened at $67.59 on Friday. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 5.84 and a beta of -0.05. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $74.77. The company has a 50-day moving average price of $61.69 and a two-hundred day moving average price of $62.37.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.55 EPS. Zoom Video Communications’s revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Zoom Video Communications will post 2.69 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 11,060 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total transaction of $632,079.00. Following the completion of the sale, the chief operating officer now owns 12,310 shares in the company, valued at approximately $703,516.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Eric S. Yuan sold 37,810 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total value of $2,160,463.40. Following the transaction, the chief executive officer now owns 113,684 shares in the company, valued at $6,495,903.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 11,060 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total value of $632,079.00. Following the transaction, the chief operating officer now directly owns 12,310 shares of the company’s stock, valued at approximately $703,516.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,014 shares of company stock valued at $7,070,162. 10.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently modified their holdings of ZM. Evoke Wealth LLC raised its stake in shares of Zoom Video Communications by 3.5% during the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock valued at $364,000 after acquiring an additional 172 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in Zoom Video Communications by 0.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after purchasing an additional 189 shares during the period. Cantor Fitzgerald L. P. grew its holdings in Zoom Video Communications by 2.7% in the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after purchasing an additional 197 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after purchasing an additional 223 shares during the period. Finally, Excalibur Management Corp grew its holdings in Zoom Video Communications by 5.6% in the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after purchasing an additional 232 shares during the period. 66.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZM. Wells Fargo & Company increased their target price on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Robert W. Baird lowered their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Bank of America decreased their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Citigroup boosted their price objective on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, Benchmark restated a “buy” rating and set a $83.00 price target on shares of Zoom Video Communications in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.10.

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.