Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan Sells 35,722 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 35,722 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the transaction, the chief executive officer now owns 57,371 shares in the company, valued at $4,099,157.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Zoom Video Communications Trading Up 0.4 %

NASDAQ:ZM opened at $72.54 on Thursday. The business’s fifty day moving average price is $67.90 and its 200 day moving average price is $62.81. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 6.22 and a beta of -0.04. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Equities analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ZM shares. Stifel Nicolaus lifted their price target on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Benchmark raised their target price on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target of $75.32.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Axiom Advisory LLC increased its holdings in Zoom Video Communications by 1.6% in the third quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after buying an additional 183 shares during the last quarter. Baader Bank Aktiengesellschaft raised its position in Zoom Video Communications by 0.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after acquiring an additional 189 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after acquiring an additional 223 shares during the last quarter. Finally, Excalibur Management Corp grew its position in Zoom Video Communications by 5.6% in the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after acquiring an additional 232 shares in the last quarter. Hedge funds and other institutional investors 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.