Insider Selling: Zoom Video Communications Inc (NASDAQ:ZM) Director Sells $8,851,864.64 in Stock

Zoom Video Communications Inc (NASDAQ:ZM) Director Santiago Subotovsky sold 73,168 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $120.98, for a total value of $8,851,864.64. Following the sale, the director now directly owns 143,462 shares in the company, valued at $17,356,032.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of ZM opened at $138.11 on Thursday. The stock has a market cap of $44.10 billion and a P/E ratio of 1,726.59. Zoom Video Communications Inc has a 52 week low of $59.94 and a 52 week high of $164.94. The company has a quick ratio of 3.21, a current ratio of 3.28 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $106.64 and its 200-day moving average price is $80.66.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.16. The business had revenue of $188.25 million for the quarter, compared to analysts’ expectations of $176.88 million. Zoom Video Communications had a return on equity of 3.30% and a net margin of 3.73%. Zoom Video Communications’s revenue for the quarter was up 77.9% compared to the same quarter last year. On average, equities analysts anticipate that Zoom Video Communications Inc will post 0.02 EPS for the current year.

ZM has been the topic of several research reports. Morgan Stanley lifted their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, March 5th. Guggenheim lifted their price objective on Zoom Video Communications from $90.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Piper Jaffray Companies initiated coverage on Zoom Video Communications in a research report on Tuesday, December 10th. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, ValuEngine raised Zoom Video Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Zoom Video Communications has an average rating of “Hold” and an average price target of $100.12.

A number of hedge funds have recently added to or reduced their stakes in ZM. Artisan Partners Limited Partnership lifted its position in Zoom Video Communications by 129.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,192,614 shares of the company’s stock valued at $489,385,000 after acquiring an additional 4,061,148 shares in the last quarter. Baillie Gifford & Co. raised its stake in Zoom Video Communications by 721.1% during the 4th quarter. Baillie Gifford & Co. now owns 2,463,345 shares of the company’s stock valued at $167,606,000 after buying an additional 2,163,345 shares during the last quarter. Wildcat Capital Management LLC purchased a new stake in Zoom Video Communications during the 4th quarter valued at $77,549,000. FIL Ltd raised its stake in Zoom Video Communications by 48.0% during the 4th quarter. FIL Ltd now owns 2,744,885 shares of the company’s stock valued at $186,762,000 after buying an additional 890,787 shares during the last quarter. Finally, Abdiel Capital Advisors LP raised its stake in Zoom Video Communications by 306.5% during the 4th quarter. Abdiel Capital Advisors LP now owns 1,070,137 shares of the company’s stock valued at $72,812,000 after buying an additional 806,897 shares during the last quarter. 22.62% of the stock is currently owned by institutional investors and hedge funds.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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Insider Buying and Selling by Quarter for Zoom Video Communications (NASDAQ:ZM)

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