Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells $2,968,113.78 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $72.18, for a total transaction of $2,968,113.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Zoom Video Communications Trading Down 1.4 %

Shares of ZM stock traded down $0.98 during mid-day trading on Monday, reaching $70.51. The stock had a trading volume of 124,652 shares, compared to its average volume of 3,073,439. The firm has a market capitalization of $21.52 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. 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 $75.34 and its two-hundred day moving average price is $78.60.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZM. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Citigroup lowered 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 research note on Tuesday, February 18th. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $86.62.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its stake in Zoom Video Communications by 28.8% during the 1st quarter. QRG Capital Management Inc. now owns 20,532 shares of the company's stock valued at $1,515,000 after acquiring an additional 4,590 shares during the period. Adero Partners LLC raised its position in shares of Zoom Video Communications by 701.5% during the 1st quarter. Adero Partners LLC now owns 44,153 shares of the company's stock valued at $3,257,000 after purchasing an additional 38,644 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Zoom Video Communications by 22.1% in the first quarter. Janney Montgomery Scott LLC now owns 22,706 shares of the company's stock valued at $1,675,000 after acquiring an additional 4,106 shares in the last quarter. Optas LLC purchased a new position in Zoom Video Communications in the 1st quarter worth approximately $463,000. Finally, Grant Private Wealth Management Inc boosted its position in shares of Zoom Video Communications by 12.4% during the first quarter. Grant Private Wealth Management Inc now owns 12,870 shares of the company's stock worth $949,000 after acquiring an additional 1,420 shares during the last quarter. Institutional investors 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.