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 the firm’s stock in a transaction that occurred 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 the SEC website.

Zoom Video Communications Trading Up 3.4 %

ZM traded up $2.86 during trading on Friday, reaching $86.22. The stock had a trading volume of 3,336,804 shares, compared to its average volume of 3,343,853. 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 capitalization of $26.43 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 5.28 and a beta of -0.03. The stock’s 50 day moving average is $76.37 and its two-hundred day moving average is $66.83.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Robert W. Baird cut their price objective 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. Benchmark boosted their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Morgan Stanley lifted their price target on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their target price on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $85.19.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after buying an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. FMR LLC boosted its position in shares of Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC raised its position in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in Zoom Video Communications during the 3rd quarter valued at about $62,038,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.