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

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were 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 is available at this link.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $86.12 on Friday. The firm has a market cap of $26.40 billion and a price-to-earnings ratio of 28.71. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The firm’s 50-day simple moving average is $83.11 and its two-hundred day simple moving average is $74.14.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds have recently modified their holdings of the stock. Adero Partners LLC boosted its position in Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after purchasing an additional 129 shares during the period. Itau Unibanco Holding S.A. boosted its holdings in Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after buying an additional 131 shares during the period. MML Investors Services LLC grew its stake in Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after buying an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after acquiring an additional 145 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ZM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Wedbush assumed coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Morgan Stanley lifted their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Sixteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.10.

About Zoom Video Communications

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.