Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Sells $851,189.73 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 10,817 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, December 10th, Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92.

Zoom Video Communications Trading Up 1.3 %

Shares of NASDAQ:ZM opened at $80.26 on Thursday. The company has a 50 day moving average of $83.05 and a 200-day moving average of $71.39. The firm has a market cap of $24.60 billion, a P/E ratio of 26.75, a P/E/G ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America increased their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating 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 report on Tuesday, November 26th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $87.81.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. grew its stake in shares of 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 purchasing an additional 131 shares during the last quarter. MML Investors Services LLC grew its position in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Zoom Video Communications by 1.9% in the third 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 in the last quarter. MetLife Investment Management LLC lifted its position in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.