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 the stock in a transaction dated Monday, January 13th. The stock was 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 hyperlink.

Zoom Video Communications Stock Up 1.3 %

NASDAQ:ZM traded up $1.06 during mid-day trading on Wednesday, reaching $80.26. 2,045,708 shares of the stock were exchanged, compared to its average volume of 2,117,801. The stock has a market capitalization of $24.60 billion, a P/E ratio of 26.75, a P/E/G ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a 50 day simple moving average of $83.05 and a 200-day simple moving average of $71.39.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the company. FMR LLC increased its position in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after acquiring an additional 2,395,396 shares during the period. State Street Corp grew its stake in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after purchasing an additional 134,559 shares during the last quarter. AQR Capital Management LLC increased its holdings 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 valued at $337,233,000 after purchasing an additional 2,520,987 shares during the period. Pacer Advisors Inc. raised its stake in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after purchasing an additional 184,518 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Benchmark boosted 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. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, November 22nd. One investment 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.com, Zoom Video Communications presently has an average rating of “Hold” and an average 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.