Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Sells $241,668.18 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 3,614 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the sale, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, July 9th, Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock. The shares were sold at an average price of $57.15, for a total transaction of $186,994.80.

Zoom Video Communications Trading Up 1.6 %

Shares of ZM stock opened at $67.59 on Friday. The stock has a 50 day simple moving average of $61.69 and a 200-day simple moving average of $62.41. The company has a market cap of $20.80 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 5.84 and a beta of -0.05. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. Zoom Video Communications’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Bank of America reduced their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Piper Sandler cut their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Benchmark reissued a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a report on Monday, August 5th. Finally, Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.10.

Institutional Trading of Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Evoke Wealth LLC grew its position in Zoom Video Communications by 3.5% during the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock worth $364,000 after buying an additional 172 shares during the period. Baader Bank Aktiengesellschaft boosted its stake in shares of Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after acquiring an additional 189 shares in the last quarter. Cantor Fitzgerald L. P. grew its holdings in shares of Zoom Video Communications by 2.7% in the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after acquiring an additional 197 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Zoom Video Communications by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after acquiring an additional 223 shares during the period. Finally, Excalibur Management Corp increased its stake in Zoom Video Communications by 5.6% in the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock valued at $257,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.