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 $321,084 were sold by Crehan Shane on Apr 09 ’24. At $62.97 per share, Crehan Shane sold 5,099 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Sankarlingam Velchamy sold 3,791 shares, netting a total of over 238,719 in proceeds. Following the sale of shares at $62.97 each, the insider now holds 91,721 shares.
Before that, Steckelberg Kelly had sold 5,007 shares from its account. In a trade valued at $317,410, the Chief Financial Officer traded Zoom Video Communications Inc shares for $63.39 each. Upon closing the transaction, the insider’s holdings decreased to 5,007 shares, worth approximately $0.0.
As published in their initiating research note from Jefferies on March 19, 2024, Zoom Video Communications Inc [ZM] has been a Hold and the price target has been revised to $70. Analysts at Exane BNP Paribas downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in mid January. As of December 20, 2023, Wells Fargo has decreased its “an Equal weight” rating to a “an Underweight” for ZM. Earlier on November 17, 2023, Citigroup upgraded its rating. Their new recommendation was “a Neutral” for ZM stock which previously was a “a Sell”.
Analyzing ZM Stock Performance
During the last five days, there has been a drop of approximately -1.58%. Over the course of the year, Zoom Video Communications Inc shares have dropped approximately -13.48%. Shares of the company reached a 52-week high of $71.50 on 01/12/24 and a 52-week low of $60.14 on 02/21/24. A 50-day SMA is recorded $65.46, while a 200-day SMA reached $67.25. Nevertheless, trading volume fell to 3.12 million shares from 3.31 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 61.55, which, if violated, would cause prices to drop to 60.87. In the upper region, resistance lies at 62.90. The next price resistance is at 63.57. RSI (Relative Strength Index) is 35.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.59, which suggests the price will decrease in the coming days. Percent R is at 88.54%, indicating bearish price movement. Stochastics %K at holding 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 steep in short interest on Mar 15, 2024 dropping by -0.55 million shares to 12.17 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 12.72 million shares. A decline of -4.52% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.41 of the overall float, the days-to-cover ratio (short ratio) decline to 2.41.
