Kelly Steckelberg Sells 8,901 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total value of $591,649.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, September 4th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The stock was sold at an average price of $68.44, for a total value of $609,184.44.
• On Wednesday, August 21st, Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10.
• On Wednesday, August 7th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $56.64, for a total transaction of $283,596.48.
• On Wednesday, July 24th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $58.64, for a total transaction of $293,610.48.
• On Tuesday, July 9th, Kelly Steckelberg sold 14,397 shares of Zoom Video Communications stock. The shares were sold at an average price of $57.15, for a total transaction of $822,788.55.
• On Wednesday, June 26th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $57.59, for a total value of $288,353.13.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $67.53 on Monday. The business’s fifty day moving average is $62.72 and its two-hundred day moving average is $62.26. The firm has a market cap of $20.89 billion, a P/E ratio of 25.20, a P/E/G ratio of 5.83 and a beta of -0.05. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last issued 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. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. 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. On average, equities research analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Benchmark reiterated a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Piper Sandler dropped their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Bank of America decreased their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.68.

Institutional Trading of Zoom Video Communications

Hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Zoom Video Communications in the second quarter valued at about $9,470,000. Sanctuary Advisors LLC acquired a new position in Zoom Video Communications during the 2nd quarter valued at about $763,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Zoom Video Communications in the 2nd quarter valued at about $207,000. Dana Investment Advisors Inc. grew its position in shares of Zoom Video Communications by 62.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 91,226 shares of the company’s stock worth $5,400,000 after buying an additional 35,105 shares during the period. Finally, Truist Financial Corp acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $296,000. 66.54% of the stock is owned by 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.