Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells $6,958,305.50 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total transaction of $6,958,305.50. 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 $86.22 on Monday. 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 $26.43 billion, a PE ratio of 28.74, a P/E/G ratio of 5.44 and a beta of -0.03. The business has a 50-day simple moving average of $76.71 and a 200-day simple moving average of $67.03.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ZM shares. Wells Fargo & Company boosted their price target on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, November 22nd. Robert W. Baird lowered their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, Mizuho boosted their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.19.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Zoom Video Communications in the second quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the third quarter valued at approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications in the second quarter valued at approximately $41,000. Allworth Financial LP boosted its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares in the last quarter. 66.54% of the stock is 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.