Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells $2,008,250.00 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at $121,619.62. This trade represents a 94.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Jonathan Chadwick also recently made the following trade(s):

• On Tuesday, October 29th, Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00.

Zoom Video Communications Stock Down 1.7 %

Shares of ZM stock opened at $78.07 on Monday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The business has a 50-day simple moving average of $82.98 and a 200-day simple moving average of $71.73. The stock has a market cap of $23.93 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 4.97 and a beta of -0.01.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ZM shares. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Piper Sandler lifted their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Cantor Fitzgerald began coverage on shares of Zoom Video Communications in a research note on Friday. They issued a “neutral” rating and a $87.00 target price for the company. Finally, Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Sixteen equities research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $89.10.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently made changes to their positions in the company. Whalen Wealth Management Inc. acquired a new position in Zoom Video Communications in the 4th quarter worth about $251,000. Avior Wealth Management LLC increased its position in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Dakota Wealth Management acquired a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $849,000. Simon Quick Advisors LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter valued at approximately $320,000. Finally, Atomi Financial Group Inc. grew its stake in Zoom Video Communications by 6.0% in the 4th quarter. Atomi Financial Group Inc. now owns 6,677 shares of the company’s stock valued at $545,000 after acquiring an additional 376 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.