Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells 37,810 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZMGet Free Report) CEO Eric S. Yuan sold 37,810 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total value of $2,160,463.40. Following the completion of the transaction, the chief executive officer now directly owns 113,684 shares of the company’s stock, valued at approximately $6,495,903.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Zoom Video Communications Stock Performance

ZM traded down $0.88 during mid-day trading on Wednesday, reaching $56.00. The stock had a trading volume of 3,956,558 shares, compared to its average volume of 3,324,907. The stock has a market capitalization of $17.32 billion, a P/E ratio of 20.90, a P/E/G ratio of 8.81 and a beta of -0.05. The firm’s fifty day simple moving average is $60.63 and its two-hundred day simple moving average is $64.01. Zoom Video Communications, Inc. has a 52 week low of $55.63 and a 52 week high of $75.90.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. As a group, analysts expect that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ZM shares. Piper Sandler cut their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday. Sanford C. Bernstein lowered their price objective on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 21st. Citigroup upped their price objective on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Robert W. Baird lowered their price objective on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Finally, Morgan Stanley lowered their price objective on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.22.

Get Our Latest Stock Analysis on Zoom Video Communications

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Zoom Video Communications by 6.0% in the 2nd quarter. CWM LLC now owns 8,304 shares of the company’s stock valued at $492,000 after purchasing an additional 471 shares during the period. Versant Capital Management Inc lifted its stake in shares of Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after purchasing an additional 893 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at $36,000. DNB Asset Management AS lifted its stake in shares of Zoom Video Communications by 4.8% in the 2nd quarter. DNB Asset Management AS now owns 41,219 shares of the company’s stock valued at $2,440,000 after purchasing an additional 1,903 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Zoom Video Communications by 613.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 529,041 shares of the company’s stock valued at $34,980,000 after purchasing an additional 454,923 shares during the period. 66.54% of the stock is currently owned by institutional investors.

About Zoom Video Communications

(Get Free Report)

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.

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

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