Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Zoom Video Communications Inc shares valued at $151,123 were sold by Yuan Eric S. on Apr 11 ’24. At $62.45 per share, Yuan Eric S. sold 2,420 shares. The insider’s holdings dropped to 92,720 shares worth approximately $5.48 million following the completion of this transaction.
Also, Yuan Eric S. sold 27,963 shares, netting a total of over 1,733,129 in proceeds. Following the sale of shares at $61.98 each, the insider now holds 95,140 shares.
Before that, Sankarlingam Velchamy had sold 13,876 shares from its account. In a trade valued at $863,320, the Pres. of Engineering & Product traded Zoom Video Communications Inc shares for $62.22 each. Upon closing the transaction, the insider’s holdings decreased to 13,876 shares, worth approximately $4.6 million.
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 -5.05%. Over the course of the year, Zoom Video Communications Inc shares have dropped approximately -17.84%. Shares of the company reached a 52-week high of $71.50 on 01/12/24 and a 52-week low of $59.01 on 04/17/24. A 50-day SMA is recorded $65.02, while a 200-day SMA reached $67.07. Nevertheless, trading volume fell to 2.03 million shares from 2.24 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 58.80, which, if violated, would cause prices to drop to 58.51. In the upper region, resistance lies at 59.58. The next price resistance is at 60.07. RSI (Relative Strength Index) is 26.52 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.98, which suggests the price will decrease in the coming days. Percent R is at 99.13%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
