Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Zoom Video Communications Inc. shares valued at $262,384 were sold by Bawa Aparna on Aug 12. At $109.14 per share, Bawa Aparna sold 2,404 shares. The insider’s holdings dropped to 70,531 shares worth approximately $5.36 million following the completion of this transaction.
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Also, Bawa Aparna sold 404 shares, netting a total of over 44,913 in proceeds. Following the sale of shares at $111.17 each, the insider now holds 72,935 shares.
Before that, Bawa Aparna had sold 2,000 shares from its account. In a trade valued at $214,918, the Chief Operating Officer traded Zoom Video Communications Inc. shares for $107.46 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $5.57 million.
As published in their initiating research note from KeyBanc Capital Markets on September 13, 2022, Zoom Video Communications Inc. [ZM] has been a Sector weight. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late August. As of August 23, 2022, BTIG Research has decreased its “Buy” rating to a “Neutral” for ZM. Earlier on August 16, 2022, Citigroup downgraded its rating. Their new recommendation was “a Sell” for ZM stock which previously was a “a Neutral”.
Analyzing ZM’s Price Performance
On Wednesday, Zoom Video Communications Inc. [NASDAQ: ZM] plunged -1.49% to $75.94. The stock’s lowest price that day was $75.32, but it reached a high of $78.83 in the same session. During the last five days, there has been a drop of approximately -4.59%. Over the course of the year, Zoom Video Communications Inc. shares have dropped approximately -58.71%. Shares of the company reached a 52-week high of $184.91 on 01/03/22 and a 52-week low of $75.32 on 09/21/22. A 50-day SMA is recorded $95.35, while a 200-day SMA reached $120.64. Nevertheless, trading volume fell to 3.24 million shares from 3.16 million shares the previous day.
Support And Resistance Levels for Zoom Video Communications Inc. (ZM)
According to the 24-hour chart, there is a support level at 74.56, which, if violated, would cause prices to drop to 73.19. In the upper region, resistance lies at 78.07. The next price resistance is at 80.21. RSI (Relative Strength Index) is 31.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.78, which suggests the price will decrease in the coming days. Percent R is at 93.45%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Zoom Video Communications Inc. subject to short interest?
Stocks of Zoom Video Communications Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 30000.0 shares to 10.32 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.29 million shares. A jump of 0.29% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.03 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.03.
Which companies own the most shares of Zoom Video Communications Inc. (ZM)?
According to The Vanguard Group, Inc. filings, the company currently owns 13,383,018 shares, which is about 5.33% of the total ZM shares outstanding. The investor’s shares have appreciated by 721,318 from its previous 13-F filing of 12661700.0 shares. With the completion of the buy transaction, ARK Investment Management LLC’s stake is now worth $769,911,847. BlackRock Fund Advisors acquire a 26.27% interest valued at $763.02 million while Morgan Stanley Investment Managem sold a -533,455 stake. A total of -266,234 shares of Zoom Video Communications Inc. were sold by Baillie Gifford & Co. during the quarter, and -20,302 were sold by Renaissance Technologies LLC. In its current portfolio, T. Rowe Price Associates, Inc. holds 5,687,769 shares valued at $457.3 million.
In terms of Zoom Video Communications Inc. share price expectations, FactSet research, analysts set an average price target of $104.83 in the next 12 months, up nearly 23.23% from the previous closing price of $77.09. Analysts anticipate Zoom Video Communications Inc. stock to reach $130.00 by 2022, with the lowest price target being $76.00. In spite of this, 33 analysts ranked Zoom Video Communications Inc. stock as a Hold at the end of 2022. On August 04, 2022, MKM Partners assigned a price target of “a Buy” to the stock and initiated coverage with a $135.