Zoom Video Communications, Inc. (NASDAQ:ZM) Director Janet Napolitano Sells 2,617 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Janet Napolitano sold 2,617 shares of Zoom Video Communications stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $76.78, for a total transaction of $200,933.26. Following the sale, the director now owns 4,728 shares of the company’s stock, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Zoom Video Communications Stock Down 1.0%

Shares of ZM stock opened at $76.63 on Friday. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm’s 50 day moving average price is $77.64 and its two-hundred day moving average price is $79.47.

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

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Zoom Video Communications from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. Morgan Stanley lifted their price target on shares of Zoom Video Communications from $79.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. UBS Group lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. lifted their price target on shares of Zoom Video Communications from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZM. Vanguard Group Inc. raised its stake in shares of Zoom Video Communications by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the period. FMR LLC increased its stake in shares of Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after buying an additional 282,645 shares during the last quarter. Norges Bank bought a new stake in shares of Zoom Video Communications in the fourth quarter worth $751,908,000. AQR Capital Management LLC increased its stake in shares of Zoom Video Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock worth $615,237,000 after buying an additional 373,509 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Zoom Video Communications by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company’s stock worth $473,732,000 after buying an additional 36,210 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.