Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells 118,036 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 118,036 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $79.44 on Friday. The business’s 50 day simple moving average is $83.06 and its 200 day simple moving average is $71.45. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market cap of $24.35 billion, a PE ratio of 26.48, a P/E/G ratio of 4.97 and a beta of -0.01.

Analyst Ratings Changes

ZM has been the topic of several research reports. Wedbush initiated coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications 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 company a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Finally, UBS Group increased 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.81.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications during the 3rd quarter worth approximately $37,000. Allworth Financial LP increased its position in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares during the last quarter. Finally, True Wealth Design LLC increased its position in shares of Zoom Video Communications by 10,763.6% during the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $83,000 after purchasing an additional 1,184 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.