Rep. Robert Bresnahan, Jr. Buys Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Zoom Video Communications, Inc. (NASDAQ:ZM). In a filing disclosed on February 13th, the Representative disclosed that they had bought between $1,001 and $15,000 in Zoom Video Communications stock on January 28th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.

Zoom Video Communications Stock Down 0.1 %

Shares of Zoom Video Communications stock traded down $0.06 on Friday, hitting $85.10. 1,435,757 shares of the company were exchanged, compared to its average volume of 2,158,431. The stock has a market capitalization of $26.08 billion and a price-to-earnings ratio of 28.37. The company has a 50-day moving average price of $83.29 and a 200 day moving average price of $75.21. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Institutional Investors Weigh In On Zoom Video Communications

A number of hedge funds have recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP increased its holdings in Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after buying an additional 12,890 shares in the last quarter. HighTower Advisors LLC grew its stake in Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after acquiring an additional 52,039 shares during the period. Merit Financial Group LLC purchased a new stake in Zoom Video Communications in the 4th quarter worth approximately $1,072,000. Robeco Institutional Asset Management B.V. grew its stake in Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after acquiring an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. purchased a new stake in Zoom Video Communications in the 3rd quarter worth approximately $62,038,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the topic of several recent research reports. The Goldman Sachs Group boosted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Stifel Nicolaus upped their price target on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Bank of America increased their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.10.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now owns 1,514 shares in the company, valued at $121,619.62. The trade was a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 in the last quarter. 10.78% of the stock is owned by insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.