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 business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the completion of the sale, the chief executive officer now owns 57,371 shares in the company, valued at $4,099,157.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Zoom Video Communications Trading Down 0.0 %

NASDAQ ZM opened at $72.63 on Friday. The company has a market cap of $22.46 billion, a P/E ratio of 27.10, a P/E/G 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. The company has a fifty day simple moving average of $68.20 and a 200 day simple moving average of $62.88.

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

Hedge Funds Weigh In On Zoom Video Communications

Several large investors have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares in the last quarter. Axiom Advisory LLC raised its stake in shares of Zoom Video Communications by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock valued at $817,000 after buying an additional 183 shares in the last quarter. Baader Bank Aktiengesellschaft raised its stake in shares of Zoom Video Communications by 0.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after buying an additional 189 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Zoom Video Communications by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after buying an additional 223 shares in the last quarter. Finally, Excalibur Management Corp raised its stake in shares of Zoom Video Communications by 5.6% in the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock valued at $257,000 after buying an additional 232 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Piper Sandler cut their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Thursday, October 10th. Finally, UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications has a consensus 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.