Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Sells $111,110.28 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shane Crehan also recently made the following trade(s):

• On Tuesday, December 10th, Shane Crehan sold 1,551 shares of Zoom Video Communications stock. The stock was sold at an average price of $84.94, for a total value of $131,741.94.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded down $0.64 during trading on Monday, hitting $78.82. The company’s stock had a trading volume of 1,884,474 shares, compared to its average volume of 2,210,943. The company has a market capitalization of $24.16 billion, a PE ratio of 26.27, a P/E/G ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The business has a 50 day moving average price of $83.02 and a two-hundred day moving average price of $71.24.

Analysts Set New Price Targets

ZM has been the topic of several research analyst reports. Piper Sandler lifted their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wedbush began coverage on Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective on the stock. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Morgan Stanley raised their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $87.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $37,000. Allworth Financial LP grew its stake in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares in the last quarter. GAMMA Investing LLC increased its holdings in Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after buying an additional 164 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in Zoom Video Communications by 10,763.6% in the third quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $83,000 after buying an additional 1,184 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.