Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells $2,655,866.19 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 33,751 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the transaction, the chief executive officer now directly owns 34,703 shares in the company, valued at approximately $2,730,779.07. This represents a 49.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $79.46 on Friday. The business has a 50-day simple moving average of $82.96 and a 200-day simple moving average of $71.01. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a market cap of $24.35 billion, a PE ratio of 26.49, a P/E/G ratio of 5.29 and a beta of -0.01.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZM. UBS Group increased their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley raised their target price 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. The Goldman Sachs Group boosted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Stifel Nicolaus raised their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein boosted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $87.81.

Institutional Trading of Zoom Video Communications

Institutional investors have recently bought and sold shares of the business. Truvestments Capital LLC purchased a new stake in Zoom Video Communications in the third quarter valued at $37,000. Allworth Financial LP lifted its holdings in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares during the period. GAMMA Investing LLC grew its stake in 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 buying an additional 164 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Zoom Video Communications by 10,763.6% during the third quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $83,000 after buying an additional 1,184 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.