Velchamy Sankarlingam Sells 2,595 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 2,595 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $80.26, for a total value of $208,274.70. Following the completion of the sale, the insider now owns 126,393 shares of the company’s stock, valued at approximately $10,144,302.18. This trade represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, April 15th, Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49.

Zoom Video Communications Stock Performance

Shares of ZM opened at $77.41 on Friday. The company has a market capitalization of $23.42 billion, a PE ratio of 25.80, a PEG ratio of 5.48 and a beta of 0.71. The company’s 50 day moving average price is $77.44 and its 200 day moving average price is $79.51. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $1.35 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZM. Stifel Nicolaus reduced their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. William Blair reissued an “outperform” rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Piper Sandler lifted their price target on shares of Zoom Video Communications from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Bank of America upped their price target on Zoom Video Communications from $79.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Finally, Mizuho cut their price objective on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.00.

Institutional Trading of Zoom Video Communications

A number of institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new position in Zoom Video Communications during the first quarter valued at approximately $3,377,000. Geneos Wealth Management Inc. increased its stake in shares of Zoom Video Communications by 82.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock worth $65,000 after purchasing an additional 397 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Zoom Video Communications by 59.1% during the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock worth $1,238,000 after purchasing an additional 6,235 shares during the last quarter. Bayforest Capital Ltd raised its holdings in shares of Zoom Video Communications by 432.5% during the 1st quarter. Bayforest Capital Ltd now owns 7,934 shares of the company’s stock valued at $585,000 after purchasing an additional 6,444 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Zoom Video Communications in the 1st quarter valued at $7,209,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Company Profile

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.