Rep. Robert Bresnahan, Jr. Buys Zoom Video Communications, Inc. (NASDAQ:ZM) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Zoom Video Communications, Inc. (NASDAQ:ZM). In a filing disclosed on March 27th, the Representative disclosed that they had bought between $1,001 and $15,000 in Zoom Video Communications stock on February 25th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Zoom Video Communications Trading Down 2.5 %

NASDAQ:ZM traded down $1.94 on Friday, reaching $74.84. 1,515,267 shares of the stock traded hands, compared to its average volume of 3,102,337. The company’s fifty day simple moving average is $79.78 and its 200 day simple moving average is $78.15. The company has a market capitalization of $22.84 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Scotiabank cut their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Monday, March 17th. Finally, Stifel Nicolaus reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $89.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC lifted its position in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after acquiring an additional 52,039 shares during the period. Merit Financial Group LLC purchased a new position in shares of Zoom Video Communications during the fourth quarter worth $1,072,000. State Street Corp lifted its stake in Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 shares in the last quarter. Nordea Investment Management AB increased its stake in Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after buying an additional 521,778 shares in the last quarter. Finally, Tri Ri Asset Management Corp purchased a new position in shares of Zoom Video Communications in the third quarter valued at approximately $2,676,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the sale, the insider now directly owns 117,760 shares of the company’s stock, valued at $9,266,534.40. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock valued at $29,689,595 over the last ninety days. Insiders own 10.78% of the company’s stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.