Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 11,190,000 shares, a decrease of 24.6% from the March 15th total of 14,840,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average daily volume of 4,760,000 shares, the short-interest ratio is presently 2.4 days.
In other Zoom Video Communications news, CEO Eric S. Yuan sold 15,625 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $109.43, for a total transaction of $1,709,843.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 2,256 shares of the company’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $111.69, for a total value of $251,972.64. Following the transaction, the insider now directly owns 5,836 shares in the company, valued at $651,822.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,983 shares of company stock valued at $22,050,089. Insiders own 12.27% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ZM. Morgan Stanley grew its stake in shares of Zoom Video Communications by 6.4% in the second quarter. Morgan Stanley now owns 12,384,701 shares of the company’s stock worth $4,793,252,000 after acquiring an additional 742,240 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Zoom Video Communications by 9.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 2,644 shares of the company’s stock worth $691,000 after buying an additional 220 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Zoom Video Communications by 31.3% in the third quarter. Illinois Municipal Retirement Fund now owns 15,403 shares of the company’s stock worth $4,028,000 after buying an additional 3,674 shares during the period. M&T Bank Corp grew its position in shares of Zoom Video Communications by 0.7% during the third quarter. M&T Bank Corp now owns 16,250 shares of the company’s stock worth $4,250,000 after purchasing an additional 119 shares in the last quarter. Finally, Sigma Planning Corp grew its position in shares of Zoom Video Communications by 5.2% during the third quarter. Sigma Planning Corp now owns 4,366 shares of the company’s stock worth $1,142,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 51.52% of the company’s stock.
NASDAQ:ZM opened at $110.31 on Monday. The company has a market capitalization of $33.00 billion, a PE ratio of 24.57, a P/E/G ratio of 4.15 and a beta of -0.93. Zoom Video Communications has a fifty-two week low of $94.51 and a fifty-two week high of $406.48. The company has a 50 day simple moving average of $119.69 and a two-hundred day simple moving average of $180.43.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings data on Monday, February 28th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Zoom Video Communications had a return on equity of 21.17% and a net margin of 33.54%. The business’s revenue was up 21.4% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. As a group, research analysts expect that Zoom Video Communications will post 1.37 EPS for the current fiscal year.
Several research firms recently weighed in on ZM. Deutsche Bank Aktiengesellschaft dropped their price target on Zoom Video Communications from $280.00 to $155.00 and set a “hold” rating on the stock in a research report on Tuesday, March 1st. UBS Group cut their price target on Zoom Video Communications from $250.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, February 24th. Benchmark raised Zoom Video Communications from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a research note on Tuesday, March 15th. Evercore ISI decreased their price objective on Zoom Video Communications from $235.00 to $145.00 and set an “inline” rating on the stock in a research report on Tuesday, March 1st. Finally, Mizuho reduced their price target on Zoom Video Communications from $300.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $191.58.
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.