Eric S. Yuan Sells 33,751 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 33,751 shares of Zoom Video Communications stock in a transaction that occurred on 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 owns 34,703 shares of the company’s stock, valued at $2,730,779.07. This represents a 49.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Zoom Video Communications Price Performance

NASDAQ:ZM traded down $0.44 on Friday, reaching $79.46. The stock had a trading volume of 2,750,285 shares, compared to its average volume of 2,265,364. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 5.29 and a beta of -0.01. The firm’s fifty day moving average is $82.96 and its two-hundred day moving average is $70.91. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ZM. Victory Capital Management Inc. increased its position in Zoom Video Communications by 53.7% during the 2nd quarter. Victory Capital Management Inc. now owns 406,212 shares of the company’s stock worth $24,044,000 after purchasing an additional 141,943 shares in the last quarter. Prudential PLC acquired a new stake in Zoom Video Communications in the second quarter valued at approximately $211,000. Choreo LLC acquired a new stake in Zoom Video Communications in the second quarter valued at approximately $200,000. Daiwa Securities Group Inc. grew its position in Zoom Video Communications by 2.5% in the second quarter. Daiwa Securities Group Inc. now owns 21,313 shares of the company’s stock valued at $1,262,000 after acquiring an additional 513 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Zoom Video Communications by 8.8% in the second quarter. American Century Companies Inc. now owns 69,491 shares of the company’s stock valued at $4,113,000 after acquiring an additional 5,598 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Bank of America lifted their target price 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. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley lifted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.81.

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.