Rep. Robert Bresnahan, Jr. Buys Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Zoom Video Communications, Inc. NASDAQ: ZM. In a filing disclosed on February 13th, the Representative disclosed that they had bought between $1,001 and $15,000 in Zoom Video Communications stock on January 28th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Lowe's Companies NYSE: LOW on 2/7/2025.
• Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Take-Two Interactive Software NASDAQ: TTWO on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 1/30/2025.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 1/30/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 1/29/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 1/29/2025.
• Sold $1,001 - $15,000 in shares of Manhattan Associates NASDAQ: MANH on 1/29/2025.
• Sold $1,001 - $15,000 in shares of Credo Technology Group NASDAQ: CRDO on 1/29/2025.

Zoom Video Communications Trading Down 0.3 %

Shares of Zoom Video Communications stock traded down $0.22 on Tuesday, hitting $84.88. 731,610 shares of the company traded hands, compared to its average volume of 2,161,284. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market cap of $26.01 billion and a P/E ratio of 28.31. The firm's 50-day simple moving average is $83.28 and its 200 day simple moving average is $75.59.

Insider Activity

In other news, CAO Shane Crehan sold 1,412 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ZM has been the topic of a number of research reports. Piper Sandler raised their price target on Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. The Goldman Sachs Group lifted their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Barclays lifted their price objective on Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, November 22nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Friday, January 10th. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $89.10.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently added to or reduced their stakes in ZM. FMR LLC increased its holdings in Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after acquiring an additional 282,645 shares during the last quarter. Norges Bank bought a new stake in Zoom Video Communications in the fourth quarter worth $751,908,000. AQR Capital Management LLC raised its stake in Zoom Video Communications by 5.2% during the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after purchasing an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Zoom Video Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after purchasing an additional 134,559 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.