Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells 35,722 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 35,722 shares of the business’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 sale, 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 can be accessed through this hyperlink.

Zoom Video Communications Stock Up 0.4 %

NASDAQ ZM traded up $0.32 during midday trading on Wednesday, hitting $72.54. The company had a trading volume of 2,654,338 shares, compared to its average volume of 3,265,789. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 6.05 and a beta of -0.04. The firm has a fifty day simple moving average of $67.90 and a two-hundred day simple moving average of $62.81. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business posted $0.55 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 2.76 earnings per share for the current year.

Institutional Trading of Zoom Video Communications

Several institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its position in shares of Zoom Video Communications by 1.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 551,677 shares of the company’s stock valued at $38,474,000 after acquiring an additional 9,586 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Zoom Video Communications by 4.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 53,262 shares of the company’s stock valued at $3,714,000 after acquiring an additional 2,504 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after purchasing an additional 492,520 shares during the last quarter. Courier Capital LLC bought a new position in Zoom Video Communications during the 3rd quarter valued at about $251,000. Finally, Signaturefd LLC lifted its holdings in Zoom Video Communications by 12.7% during the 3rd quarter. Signaturefd LLC now owns 3,443 shares of the company’s stock valued at $240,000 after purchasing an additional 387 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ZM shares. Benchmark boosted their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus upped their price objective on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Finally, Robert W. Baird dropped their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $75.32.

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.