Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells $288,353.13 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $57.59, for a total value of $288,353.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, June 12th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $61.43, for a total value of $307,580.01.
• On Wednesday, May 29th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $61.58, for a total value of $308,331.06.
• On Wednesday, May 15th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $63.36, for a total value of $317,243.52.
• On Wednesday, May 1st, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $61.42, for a total value of $307,529.94.
• On Wednesday, April 17th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were 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 shares were sold at an average price of $63.39, for a total value of $317,393.73.

Zoom Video Communications Stock Up 1.2 %

Shares of NASDAQ ZM opened at $59.19 on Monday. Zoom Video Communications, Inc. has a twelve month low of $55.63 and a twelve month high of $75.90. The firm has a market cap of $18.31 billion, a P/E ratio of 22.09, a PEG ratio of 9.09 and a beta of -0.01. The company has a 50 day moving average of $61.20 and a 200 day moving average of $64.73.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, June 21st. Citigroup lifted their price objective on Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Robert W. Baird decreased their price objective on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Jefferies Financial Group initiated coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective on the stock. Finally, Sanford C. Bernstein cut their target price 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.44.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after buying an additional 721,923 shares during the last quarter. ARK Investment Management LLC raised its stake in Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after buying an additional 781,663 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Zoom Video Communications by 3.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after buying an additional 216,768 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in Zoom Video Communications by 4.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock valued at $434,785,000 after buying an additional 233,321 shares during the last quarter. Finally, FIL Ltd raised its stake in Zoom Video Communications by 1.3% during the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after buying an additional 40,456 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

About Zoom Video Communications

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.