Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells 83,332 Shares of Stock

On February 4th, Eric S. Yuan, the CEO of Zoom Video Communications, Inc. (NASDAQ:ZM), sold 83,332 shares of the company's stock. This sale was executed at an average price of $86.28 per share, resulting in a total transaction value of $7,189,884.96. The details of this transaction were made public through a filing with the Securities and Exchange Commission (SEC).

Current Stock Performance

During mid-day trading on Thursday, Zoom's stock experienced a slight increase, rising by $0.70 to reach $86.69. The trading volume for the day was reported at 1,549,424 shares, compared to an average volume of 2,250,368 shares. Over the past year, the stock has experienced a low of $55.06 and a high of $92.80. Currently, the fifty-day moving average stands at $83.09, while the 200-day moving average is at $74.05. Zoom Video Communications has a market capitalization of $26.57 billion and a price-to-earnings (PE) ratio of 28.90.

Institutional Investment Activity

In recent months, several institutional investors have adjusted their positions in Zoom Video Communications. For instance, Global X Japan Co. Ltd. increased its ownership in the company by 127.5% during the fourth quarter, now holding 339 shares valued at approximately $28,000. Similarly, Avior Wealth Management LLC raised its stake by 291.2%, now owning 356 shares worth about $29,000 after purchasing an additional 265 shares. Parkside Financial Bank & Trust also increased its holdings by 277.4%, now owning 351 shares valued at $29,000. Other institutional investments included new stakes from Truvestments Capital LLC and Geneos Wealth Management Inc., indicating a growing interest in the company. Overall, institutional investors currently hold 66.54% of Zoom's stock.

Analysts' Outlook

Several brokerage firms have recently updated their ratings and price targets for Zoom Video Communications. Jefferies Financial Group upgraded ZM from a "hold" to a "buy" rating, increasing their price target from $85.00 to $100.00. Cantor Fitzgerald began coverage with a "neutral" rating and set a target price of $87.00. Morgan Stanley also raised its price target from $86.00 to $96.00 while maintaining an "equal weight" rating. Bank of America lifted its target from $75.00 to $90.00 with a "neutral" rating. The Goldman Sachs Group adjusted their price target from $72.00 to $86.00 and maintained a "neutral" rating. Overall, analysts have provided a mix of ratings, with 16 indicating "hold," eight labeling it as a "buy," and one advocating a "strong buy," leading to an average rating of "Hold" and a consensus price target of $89.10.

About Zoom Video Communications

Zoom Video Communications, Inc. provides a unified communications platform globally. Their services include Zoom Meetings, which offers HD video, voice, chat, and content sharing across various devices. Additionally, they provide Zoom Phone, an enterprise-level telephone system, and Zoom Chat for message sharing among users.

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