Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick Sells 25,000 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the transaction, the director now owns 1,514 shares in the company, valued at approximately $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jonathan Chadwick also recently made the following trade(s):

• On Tuesday, October 29th, Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock. The stock was sold at an average price of $75.04, for a total transaction of $938,000.00.

Zoom Video Communications Stock Performance

Zoom Video Communications stock traded down $1.37 during trading hours on Friday, hitting $78.07. 2,923,674 shares of the stock were exchanged, compared to its average volume of 2,162,487. The stock has a market capitalization of $23.93 billion, a P/E ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business’s 50-day moving average is $83.05 and its two-hundred day moving average is $71.50.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently made changes to their positions in the company. Baker Avenue Asset Management LP lifted its stake in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after acquiring an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $763,000. HighTower Advisors LLC lifted its holdings in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Zoom Video Communications by 15.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after acquiring an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Zoom Video Communications in the third quarter valued at approximately $62,038,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein boosted their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Morgan Stanley increased their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.77.

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.