Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells 75,531 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Zoom Video Communications Stock Up 0.7 %

ZM stock opened at $75.98 on Friday. The business’s fifty day simple moving average is $81.31 and its two-hundred day simple moving average is $77.49. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 5.48 and a beta of 0.26.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors have recently made changes to their positions in ZM. Adero Partners LLC boosted its position in Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after purchasing an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after acquiring an additional 131 shares during the period. MML Investors Services LLC lifted its holdings in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after acquiring an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ZM. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Stifel Nicolaus reduced their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Citigroup reduced their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.05.

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.