Short Interest in Zoom Video Communications, Inc. (NASDAQ:ZM) Decreases By 26.7%

Zoom Video Communications, Inc. (NASDAQ:ZM) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 6,680,000 shares, a decline of 26.7% from the February 13th total of 9,110,000 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 2,750,000 shares, the short-interest ratio is currently 2.4 days.

Zoom Video Communications Trading Up 1.3 %

Shares of ZM stock opened at $75.16 on Tuesday. The stock has a 50 day moving average of $80.30 and a two-hundred day moving average of $77.75. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a market capitalization of $22.94 billion, a P/E ratio of 25.05, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 369,271 shares of company stock valued at $29,496,892. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

A number of hedge funds have recently modified their holdings of the company. Adero Partners LLC lifted its position in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after acquiring an additional 129 shares during the period. Itau Unibanco Holding S.A. lifted its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after buying an additional 131 shares during the period. MML Investors Services LLC lifted its position in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the period. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ZM. Mizuho upped their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Sanford C. Bernstein increased their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $89.33.

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.