Eric S. Yuan Sells 2,420 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZMGet Free Report) CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $61.80, for a total transaction of $149,556.00. Following the completion of the sale, the chief executive officer now owns 85,460 shares of the company’s stock, valued at approximately $5,281,428. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Zoom Video Communications Stock Up 1.6 %

Shares of ZM opened at $63.11 on Friday. The company’s fifty day moving average is $62.25 and its 200-day moving average is $65.84. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90. The firm has a market cap of $19.52 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 9.73 and a beta of -0.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale grew its stake in Zoom Video Communications by 613.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 529,041 shares of the company’s stock valued at $34,980,000 after buying an additional 454,923 shares during the last quarter. Cetera Advisors LLC grew its stake in Zoom Video Communications by 52.1% in the 1st quarter. Cetera Advisors LLC now owns 6,307 shares of the company’s stock valued at $412,000 after buying an additional 2,160 shares during the last quarter. Swedbank AB acquired a new position in Zoom Video Communications in the 1st quarter valued at $2,100,000. Plato Investment Management Ltd grew its position in Zoom Video Communications by 549.3% in the 1st quarter. Plato Investment Management Ltd now owns 8,389 shares of the company’s stock worth $548,000 after purchasing an additional 7,097 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Zoom Video Communications by 27.3% during the 1st quarter. iA Global Asset Management Inc. now owns 4,060 shares of the company’s stock worth $265,000 after purchasing an additional 870 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI reduced their price target on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, May 21st. Sanford C. Bernstein reduced their price target on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a research report on Tuesday, May 21st. Stifel Nicolaus cut their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, May 21st. Citigroup increased their target price on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Finally, Wedbush reiterated a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $76.18.

Get Our Latest Stock Analysis on ZM

About Zoom Video Communications

(Get Free Report)

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.

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