Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells 83,332 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Zoom Video Communications Trading Down 0.7 %

Zoom Video Communications stock opened at $86.12 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market cap of $26.40 billion and a price-to-earnings ratio of 28.71. The company’s 50-day moving average price is $83.11 and its two-hundred day moving average price is $74.14.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its holdings in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares during the period. Parkside Financial Bank & Trust raised its stake in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the period. Avior Wealth Management LLC lifted its holdings 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 purchasing an additional 265 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications during the 4th quarter worth about $39,000. Finally, Truvestments Capital LLC purchased a new position in Zoom Video Communications during the third quarter valued at approximately $37,000. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Benchmark increased their target price on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Morgan Stanley raised their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Sixteen research 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. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $89.10.

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.