Eric S. Yuan Sells 83,332 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) CEO Eric S. Yuan sold 83,332 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM traded up $0.98 during midday trading on Monday, reaching $87.10. 2,319,849 shares of the company traded hands, compared to its average volume of 2,198,282. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market cap of $26.70 billion and a price-to-earnings ratio of 29.03. The stock has a 50-day moving average price of $83.18 and a 200 day moving average price of $74.55.

Hedge Funds Weigh In On Zoom Video Communications

Several large investors have recently made changes to their positions in the business. FMR LLC boosted its position in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after acquiring an additional 2,395,396 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Zoom Video Communications during the 4th quarter worth $99,471,000. Eagle Asset Management Inc. acquired a new stake in shares of Zoom Video Communications in the third quarter valued at about $62,038,000. Assenagon Asset Management S.A. grew its holdings in Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock valued at $102,119,000 after buying an additional 699,625 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Zoom Video Communications by 202.8% during the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock worth $64,054,000 after acquiring an additional 521,778 shares during the period. Institutional investors own 66.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Scotiabank upgraded Zoom Video Communications to a "hold" rating in a research note on Tuesday, November 19th. Wedbush assumed coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They issued an "outperform" rating and a $85.00 price target for the company. The Goldman Sachs Group raised their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, UBS Group lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and a consensus price target of $89.10.

Zoom Video Communications Company Profile

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.