Zoom Video Communications (ZM) Trading Up 5.9%

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Shares of Zoom Video Communications Inc (NASDAQ:ZM) were up 5.9% during mid-day trading on Wednesday . The company traded as high as $78.50 and last traded at $77.68. Approximately 2,264,281 shares changed hands during trading, a decline of 38% from the average daily volume of 3,672,637 shares. The stock had previously closed at $73.33.

A number of analysts have recently issued reports on ZM shares. Sanford C. Bernstein started coverage on shares of Zoom Video Communications in a research note on Monday, April 29th. They set an “outperform” rating and a $45.00 target price for the company. Summit Insights started coverage on shares of Zoom Video Communications in a research note on Monday, April 22nd. They set a “sell” rating for the company. Finally, Rosenblatt Securities started coverage on shares of Zoom Video Communications in a research note on Tuesday, April 30th. They set a “neutral” rating and a $60.00 target price for the company.

In related news, major shareholder Emergence Capital Partners Iii sold 912,026 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $31,191,289.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Janine Pelosi sold 81,668 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $36.00, for a total value of $2,940,048.00. The disclosure for this sale can be found here. Insiders sold 2,405,918 shares of company stock valued at $83,480,215 over the last 90 days.

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About Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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