Insider Selling: Zoom Video Communications CEO Sells Shares

Recently, Zoom Video Communications, Inc. (NASDAQ:ZM) saw its CEO, Eric S. Yuan, sell a significant number of shares. On February 4th, he sold 83,332 shares at an average price of $86.28, accumulating a total of $7,189,884.96 from the sale. This transaction has been officially reported in a filing with the SEC, which is accessible via the SEC website.

Current Stock Performance

On Thursday, the stock traded up by 0.8%, reaching $86.69 during midday trading. The trading volume for the day was about 1,549,424 shares, contrasting with the average volume of 2,250,368 shares. Over the past year, the stock's lowest point was $55.06, while its highest was $92.80. Currently, Zoom Video Communications holds a market capitalization of $26.57 billion, with a P/E ratio of 28.90.

Institutional Investor Activity

Several institutional investors have recently adjusted their positions in Zoom Video Communications. In the last quarter, Global X Japan Co. Ltd. increased its holdings by 127.5% and now owns 339 shares valued at approximately $28,000. Avior Wealth Management LLC substantially raised its stake by 291.2%, now owning 356 shares worth $29,000 after purchasing additional shares. Other firms, such as Parkside Financial Bank & Trust and Truvestments Capital LLC, also acquired new positions in the company. Overall, institutional investors command 66.54% of Zoom's stock.

Analyst Opinions and Price Targets

Brokerages have recently reviewed the stock. Jefferies Financial Group has upgraded its rating from "hold" to "buy" and set a new price target of $100.00. Additionally, Cantor Fitzgerald began covering Zoom, assigning a "neutral" rating with a price objective of $87.00. Morgan Stanley has adjusted its target from $86.00 to $96.00. Meanwhile, Bank of America and The Goldman Sachs Group also raised their price targets to $90.00 and $86.00, respectively. Presently, consensus indicates a "Hold" rating for the stock with a target price of $89.10 based on data from MarketBeat.com.

About Zoom Video Communications

Zoom Video Communications, Inc. offers a unified communications platform serving clients across the globe, including the Americas, Asia Pacific, Europe, and the Middle East. The company provides various services like Zoom Meetings, Zoom Phone, and Zoom Chat, which enable HD video, voice communication, and messaging across multiple devices.

Conclusion

In light of these developments, investors are advised to keep an eye on Zoom Video Communications and the broader market trends affecting its stock performance. Additional attention should be given to analyst ratings and institutional trading patterns.

Zoom, Stocks, Insider