Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells $9,328,385.08 in Stock

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

Zoom Video Communications Stock Up 1.3 %

ZM stock traded up $1.06 during trading on Wednesday, hitting $80.26. The company had a trading volume of 2,045,708 shares, compared to its average volume of 2,117,801. The stock has a market cap of $24.60 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 5.29 and a beta of -0.01. The firm has a 50-day moving average price of $83.05 and a 200-day moving average price of $71.39. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Analyst Upgrades and Downgrades

ZM has been the topic of a number of research reports. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Sanford C. Bernstein boosted their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 26th. UBS Group increased their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Benchmark raised their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Mizuho raised their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $87.81.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the third quarter valued at approximately $37,000. Allworth Financial LP boosted its holdings in shares of 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 buying an additional 180 shares during the period. Venturi Wealth Management LLC increased its holdings in 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after buying an additional 164 shares in the last quarter. Finally, True Wealth Design LLC grew its stake 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 acquiring an additional 1,184 shares in the last quarter. Institutional investors 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.