Eric S. Yuan Sells 33,751 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 33,751 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at $2,730,779.07. This trade represents a 49.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Zoom Video Communications Stock Performance

ZM stock opened at $79.46 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a fifty day moving average of $82.96 and a 200-day moving average of $70.91. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 5.29 and a beta of -0.01.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in shares of Zoom Video Communications by 53.7% during the 2nd quarter. Victory Capital Management Inc. now owns 406,212 shares of the company’s stock valued at $24,044,000 after purchasing an additional 141,943 shares during the period. Prudential PLC purchased a new stake in shares of Zoom Video Communications in the second quarter worth about $211,000. Choreo LLC bought a new position in shares of Zoom Video Communications in the second quarter valued at approximately $200,000. Daiwa Securities Group Inc. grew its stake in Zoom Video Communications by 2.5% during the second quarter. Daiwa Securities Group Inc. now owns 21,313 shares of the company’s stock valued at $1,262,000 after acquiring an additional 513 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Zoom Video Communications by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 69,491 shares of the company’s stock worth $4,113,000 after acquiring an additional 5,598 shares during the period. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the topic of several research analyst reports. Barclays upped their target price on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. UBS Group raised their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein boosted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday. Finally, Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $100.00 in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently 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.