5 Cathie Wood Stocks Insiders are Selling

3. Zoom Video Communications Inc (NASDAQ:ZM)

Cathie Wood’s Stake: $413,826,532

Number of Hedge Fund Investors: 41

Cathie Wood has been holding onto Zoom Video Communications Inc (NASDAQ:ZM) despite the stock’s decline from its glory days back in the pandemic era. Many believe Zoom Video Communications Inc (NASDAQ:ZM) will never see the demand it saw during the pandemic amid increasing competition and a decline in work from home trends. Aparna Bawa, a director at Zoom Video Communications Inc (NASDAQ:ZM), on April 18 sold 21,468 shares of Zoom Video Communications Inc (NASDAQ:ZM). Since then Zoom Video Communications Inc (NASDAQ:ZM) is up 2% as of April 24.

Meridian Hedged Equity Fund made the following comment about Zoom Video Communications, Inc. (NASDAQ:ZM) in its Q3 2023 investor letter:

“Zoom Video Communications, Inc. (NASDAQ:ZM) provides video conferencing software widely used for virtual meetings, webinars, and online collaboration by businesses, schools, and individuals. The company has shown stability in its business model after a remarkable rise in 2020. While its valuation is more reasonable now, the company maintains strong operating margins. The enterprise sector, particularly through successful upselling, has shown resilience despite economic headwinds and seat churn. Zoom’s contact center solution has shown early traction with a growing roster of customers and a rapid rollout of new features, showing strong potential for future growth. The stock performed well during the quarter following results that exceeded expectations, reaffirming its potential for growth.”