Eric S. Yuan Sells 118,036 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) 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 at the SEC website.

Zoom Video Communications Price Performance

Shares of ZM opened at $79.44 on Friday. The firm has a 50 day simple moving average of $83.06 and a 200-day simple moving average of $71.45. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 4.97 and a beta of -0.01.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ZM. Crossmark Global Holdings Inc. boosted its position in Zoom Video Communications by 464.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 16,374 shares of the company’s stock worth $1,336,000 after acquiring an additional 13,471 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in Zoom Video Communications by 28.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 5,071 shares of the company’s stock worth $414,000 after acquiring an additional 1,128 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in Zoom Video Communications during the fourth quarter worth approximately $311,000. Ameritas Advisory Services LLC boosted its position in Zoom Video Communications by 4.2% during the fourth quarter. Ameritas Advisory Services LLC now owns 15,095 shares of the company’s stock worth $1,232,000 after acquiring an additional 610 shares during the last quarter. Finally, Alhambra Investment Management LLC boosted its position in Zoom Video Communications by 16.8% during the fourth quarter. Alhambra Investment Management LLC now owns 9,459 shares of the company’s stock worth $772,000 after acquiring an additional 1,364 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ZM shares. Mizuho increased their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Bank of America increased their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, November 22nd. Wedbush began coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.