Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Shane Crehan Sells $111,110.28 in Stock

On January 10th, Shane Crehan, the Chief Accounting Officer (CAO) of Zoom Video Communications, Inc. (NASDAQ:ZM), conducted a significant stock transaction. He sold 1,412 shares at an average price of $78.69 each, resulting in a total sale value of $111,110.28. After this sale, Crehan retains ownership of 5,404 shares of Zoom's stock, amounting to a value of approximately $425,240.76. Notably, this sale reflects a 20.72% decrease in his overall ownership in the company.

The details of the transaction were formally disclosed in a filing submitted to the Securities and Exchange Commission (SEC), which is accessible for further review.

Previous Transactions by CAO Shane Crehan

In addition to this recent transaction, Shane Crehan also sold another 1,551 shares on December 10th. During that sale, he achieved an average price of $84.94 per share, bringing in a total of $131,741.94.

Current Stock Performance of Zoom Video Communications

On the trading day following these transactions, Zoom's shares saw a slight decline, dropping $0.64 to a trading price of $78.82. The stock had a trading volume of 1,884,474 shares, slightly under its average volume of 2,210,943 shares. Zoom Video Communications holds a market capitalization of approximately $24.16 billion, with a price-to-earnings (P/E) ratio of 26.27. The stock has experienced a fifty-two week low of $55.06 and a high of $92.80, with moving averages positioned at $83.02 for the last fifty days and $71.24 over the past two hundred days.

Updates from Analysts on Price Targets

Several analysts have recently evaluated Zoom's stock performance. Piper Sandler increased their target price to $89.00, maintaining a “neutral” rating. Similarly, Wedbush started coverage with an “outperform” rating and a price target of $85.00. Other firms, including Scotiabank and Morgan Stanley, have also provided updated ratings and price targets, indicating a mixed sentiment among analysts.

Institutional Investors Involvement

In terms of institutional investments, several hedge funds and investors have made adjustments to their stakes in Zoom. For instance, Truvestments Capital LLC acquired shares valued at about $37,000, while Allworth Financial LP increased its position by 43.8%. Overall, institutional investors control 66.54% of Zoom's stock, reflecting a strong interest in the company's prospects.

Overview of Zoom Video Communications, Inc.

Zoom Video Communications is a leader in providing unified communications solutions globally. Their offerings include features for video meetings, voice services, and messaging, catering to a diverse range of clients across various sectors.

Zoom, stock, sale