Zoom CEO Eric S. Yuan Sells $9,328,385 Worth of Stock

On January 13th, 2023, Eric S. Yuan, the CEO of Zoom Video Communications, Inc. (NASDAQ:ZM), sold 118,036 shares of the company. The shares were sold at an average price of $79.03, resulting in a total transaction value of $9,328,385.08. This sale was officially reported in a document submitted to the SEC, which can be accessed through their website.

Zoom Video Communications Stock Performance

On the following Wednesday, ZM stock saw an increase of 1.3%, rising by $1.06 to reach $80.26 during trading. The trading volume that day was 2,045,708 shares, which was slightly less than its average volume of 2,117,801 shares. The company boasts a market capitalization of $24.60 billion and a price-to-earnings ratio of 26.75. Its PEG ratio stands at 5.29, and it has a beta of -0.01. The stock's 50-day moving average is $83.05, while the 200-day moving average is $71.39. Over the past year, Zoom Video Communications has had a low of $55.06 and a high of $92.80.

Analyst Ratings for Zoom Video Communications

Zoom Video Communications has been the focus of several research reports recently. Scotiabank upgraded its rating to “hold” on November 19th. Meanwhile, Sanford C. Bernstein increased its price target from $78.00 to $89.00 and assigned a “market perform” rating. On the same day, UBS Group raised its target from $75.00 to $90.00 while maintaining a “neutral” rating. Benchmark also increased its price target from $85.00 to $97.00 and rated the stock as a “buy.” Additionally, Mizuho raised its price target from $90.00 to $105.00, giving the stock an “outperform” rating. Currently, out of various analysts, one has rated the stock with a sell, fifteen with hold, eight with buy, and one with strong buy. According to statistics from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a mean price target of $87.81.

Investors' Moves Regarding Zoom Video Communications

Institutional investors have made adjustments in their positions concerning Zoom Video Communications recently. Truvestments Capital LLC initiated a new position during the third quarter, valued at around $37,000. Allworth Financial LP increased its holdings by 43.8%, now owning 591 shares worth $41,000 after acquiring an additional 180 shares. Venturi Wealth Management LLC raised its stake by 56.0%, owning 763 shares with a total worth of $53,000. GAMMA Investing LLC also expanded its holdings by 27.1% in the fourth quarter, owning 770 shares valued at $63,000 after adding 164 shares. Lastly, True Wealth Design LLC significantly grew its position by 10,763.6%, now holding 1,195 shares worth $83,000 after purchasing an additional 1,184 shares. Collectively, institutional investors hold approximately 66.54% of the company's stock.

Overview of Zoom Video Communications

Zoom Video Communications, Inc. is a provider of a unified communications platform that operates across various regions, including the Americas, Asia Pacific, Europe, the Middle East, and Africa. The company offers multiple services, such as Zoom Meetings, which includes HD video, voice, chat, and content sharing through various devices; Zoom Phone, an enterprise cloud phone system; and Zoom Chat, which enables message and content sharing across multiple platforms.

Zoom, Stock, Sale