Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells $307,529.94 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $61.42, for a total transaction of $307,529.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Kelly Steckelberg also recently made the following trade(s):

• On Wednesday, April 17th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $59.36, for a total value of $297,215.52.
• On Wednesday, April 3rd, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $63.39, for a total value of $317,393.73.
• On Wednesday, March 20th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.46, for a total value of $332,765.22.
• On Wednesday, March 6th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $67.08, for a total transaction of $335,869.56.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $61.82 on Monday. The firm has a fifty day moving average of $64.58 and a 200 day moving average of $65.74. The firm has a market capitalization of $19.01 billion, a PE ratio of 30.30 and a beta of -0.05. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds have recently modified their holdings of ZM. Pearl River Capital LLC grew its holdings in Zoom Video Communications by 31.6% in the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after purchasing an additional 8,928 shares during the period. California Public Employees Retirement System grew its stake in Zoom Video Communications by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock valued at $32,231,000 after acquiring an additional 14,945 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Zoom Video Communications by 15.9% in the third quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,826 shares during the last quarter. Vanguard Group Inc. grew its holdings in Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after buying an additional 1,000,005 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC increased its holdings in shares of Zoom Video Communications by 25.4% during the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock worth $23,590,000 after purchasing an additional 66,433 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZM has been the subject of several analyst reports. Mizuho cut their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Piper Sandler increased their price target on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company. Finally, Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $77.56.

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.