Velchamy Sankarlingam Sells 10,817 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now owns 117,760 shares in the company, valued at $9,266,534.40. This represents a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, December 10th, Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $80.26 on Thursday. The stock has a 50-day simple moving average of $83.05 and a 200 day simple moving average of $71.39. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market capitalization of $24.60 billion, a PE ratio of 26.75, a P/E/G ratio of 5.29 and a beta of -0.01.

Analyst Upgrades and Downgrades

ZM has been the topic of a number of research analyst reports. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Bank of America lifted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Finally, UBS Group increased their target price 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.81.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Aaron Wealth Advisors LLC lifted its stake in shares of Zoom Video Communications by 28.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 5,071 shares of the company’s stock valued at $414,000 after buying an additional 1,128 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $311,000. Ameritas Advisory Services LLC grew its holdings in shares of Zoom Video Communications by 4.2% during the 4th quarter. Ameritas Advisory Services LLC now owns 15,095 shares of the company’s stock worth $1,232,000 after purchasing an additional 610 shares in the last quarter. Alhambra Investment Management LLC increased its position in shares of Zoom Video Communications by 16.8% during the fourth quarter. Alhambra Investment Management LLC now owns 9,459 shares of the company’s stock valued at $772,000 after purchasing an additional 1,364 shares during the period. Finally, Arkadios Wealth Advisors raised its stake in shares of Zoom Video Communications by 35.7% in the fourth quarter. Arkadios Wealth Advisors now owns 39,628 shares of the company’s stock valued at $3,234,000 after purchasing an additional 10,417 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.