Zoom Video Communications, Inc. CAO's Recent Stock Sale

On January 10th, 2023, Shane Crehan, the Chief Accounting Officer (CAO) of Zoom Video Communications, Inc. (NASDAQ:ZM), made a significant stock transaction involving 1,412 shares. These shares were sold at an average price of $78.69, resulting in a total transaction value of $111,110.28. Following this sale, Crehan retains ownership of 5,404 shares in the company, which is now worth an estimated $425,240.76. It's important to note that this sale represents a 20.72% decrease in his overall stock ownership, a move disclosed in a regulatory filing with the Securities and Exchange Commission (SEC).

Recent Trading Activity by Shane Crehan

In addition to the recent sale, Shane Crehan also engaged in another transaction prior to the January sale. On December 10th, 2022, he sold 1,551 shares of Zoom's stock at an average price of $84.94, amounting to a total of $131,741.94. These activities reflect a notable pattern of stock sales by Crehan.

Current Stock Performance of Zoom Video Communications

On the day of the report, shares of Zoom Video Communications experienced a slight decline, trading down $0.64 to reach $78.82. The trading volume was reported at 1,884,474 shares, which is lower than the average volume of 2,210,943 shares. The company has a market capitalization of $24.16 billion, a price-to-earnings (P/E) ratio of 26.27, and a P/E to growth (P/E/G) ratio of 5.29. Over the past year, Zoom Video Communications has seen its stock reach a low of $55.06 and a high of $92.80. The 50-day moving average price stands at $83.02, while the 200-day moving average price is $71.24.

Analyst Ratings and Price Targets

Several analysts have provided updates on Zoom Video Communications, adjusting their price targets for the stock. Notably, Piper Sandler raised their target price from $68.00 to $89.00 and maintained a "neutral" rating. Wedbush initiated coverage with an "outperform" rating, setting a price objective of $85.00. Additionally, Scotiabank upgraded its rating to "hold," while Morgan Stanley increased its target price from $86.00 to $96.00, providing an "equal weight" rating. Overall, the consensus rating for Zoom Video Communications is labeled as "Hold," with an average target price of $87.81 based on MarketBeat's data.

Institutional Investment Trends

Recent trends indicate that institutional investors and hedge funds are actively buying and selling shares of Zoom Video Communications. In the third quarter, Truvestments Capital LLC acquired a new stake valued at approximately $37,000. Other firms, such as Allworth Financial LP and Venturi Wealth Management LLC, also increased their stakes in the company significantly. Currently, it is reported that approximately 66.54% of Zoom's stock is owned by institutional investors and hedge funds.

Understanding Zoom Video Communications

Zoom Video Communications, Inc. offers a unified communications platform across various regions, including the Americas, Asia Pacific, Europe, and more. The company provides several services, such as Zoom Meetings, which incorporates HD video, voice, and chat functionalities, and Zoom Phone, which serves as an enterprise cloud phone system.

Zoom, Stock, Sale