Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells $5,663,314.38 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $75.98 on Friday. The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 5.48 and a beta of 0.26. 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 moving average price of $81.31 and a 200 day moving average price of $77.49.

Analysts Set New Price Targets

ZM has been the topic of several recent analyst reports. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Mizuho upped their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Piper Sandler boosted their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price target for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Fifteen investment 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.05.

Institutional Investors Weigh In On Zoom Video Communications

A number of large investors have recently made changes to their positions in the company. Siemens Fonds Invest GmbH grew its holdings in shares of Zoom Video Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company’s stock valued at $391,000 after buying an additional 174 shares in the last quarter. Fluent Financial LLC purchased a new position in Zoom Video Communications during the 4th quarter valued at about $623,000. Menard Financial Group LLC grew its stake in Zoom Video Communications by 7.4% during the 4th quarter. Menard Financial Group LLC now owns 4,651 shares of the company’s stock valued at $380,000 after acquiring an additional 320 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at about $20,430,000. Finally, Leigh Baldwin & CO. LLC purchased a new stake in shares of Zoom Video Communications in the fourth quarter worth approximately $239,000. Institutional investors and hedge funds 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.