Aparna Bawa Sells 10,871 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa sold 10,871 shares of Zoom Video Communications stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $68.12, for a total value of $740,532.52. Following the completion of the sale, the chief operating officer now directly owns 12,498 shares of the company’s stock, valued at $851,363.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, September 10th, Aparna Bawa sold 831 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99.
• On Thursday, September 5th, Aparna Bawa sold 880 shares of Zoom Video Communications stock. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20.
• On Thursday, July 18th, Aparna Bawa sold 10,332 shares of Zoom Video Communications stock. The stock was sold at an average price of $56.81, for a total transaction of $586,960.92.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $70.68 on Friday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.77. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 6.03 and a beta of -0.04. The company has a 50-day simple moving average of $65.37 and a 200-day simple moving average of $62.48.

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 analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zoom Video Communications in the second quarter valued at approximately $41,000. Versant Capital Management Inc grew its holdings in Zoom Video Communications by 1,257.7% during the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after acquiring an additional 893 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Zoom Video Communications by 69.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock worth $102,000 after acquiring an additional 692 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler reduced their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday. Bank of America lowered their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Wells Fargo & Company upped their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, October 4th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $75.05.

Zoom Video Communications Company Profile

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.