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 Intel (NASDAQ:INTC) 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 ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) 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 NVIDIA (NASDAQ:NVDA) on 1/29/2025.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded down $0.06 during trading hours on Friday, hitting $85.10. The company’s stock had a trading volume of 1,435,757 shares, compared to its average volume of 2,158,431. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a 50 day moving average of $83.29 and a 200 day moving average of $75.21. The company has a market capitalization of $26.08 billion and a PE ratio of 28.37.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Adero Partners LLC lifted its holdings in shares of Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after acquiring an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. raised 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 valued at $497,000 after buying an additional 131 shares during the last quarter. MML Investors Services LLC raised its holdings 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 during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after buying an additional 145 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after buying an additional 154 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. In the last 90 days, insiders 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 subject of several recent research reports. Morgan Stanley upped their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Cantor Fitzgerald began coverage on shares of Zoom Video Communications in a research report on Friday, January 17th. They issued a “neutral” rating and a $87.00 price objective on the stock. Finally, Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Sixteen 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 stock. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average target price of $89.10.

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.