Eric S. Yuan Sells 33,751 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 33,751 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the sale, the chief executive officer now owns 34,703 shares in the company, valued at $2,730,779.07. The trade was a 49.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Zoom Video Communications Stock Down 0.6 %

Shares of ZM opened at $79.46 on Friday. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock’s 50-day moving average price is $82.96 and its 200-day moving average price is $71.01.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds have recently bought and sold shares of the stock. Baker Avenue Asset Management LP increased its holdings in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after acquiring an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Zoom Video Communications during the second quarter worth about $763,000. HighTower Advisors LLC raised its position in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after buying an additional 167,618 shares in the last quarter. Finally, National Pension Service boosted its holdings in Zoom Video Communications by 30.1% in the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after buying an additional 151,728 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Bank of America increased their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Mizuho upped their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.81.

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.