Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg Sells 6,700 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $111.55, for a total value of $747,385.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 21st, Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock. The stock was sold at an average price of $116.42, for a total value of $780,014.00.
• On Wednesday, March 2nd, Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock. The stock was sold at an average price of $119.57, for a total value of $801,119.00.
• On Monday, February 14th, Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock. The stock was sold at an average price of $144.57, for a total value of $968,619.00.
• On Wednesday, January 26th, Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock. The stock was sold at an average price of $145.72, for a total value of $976,324.00.

ZM traded down $2.47 during trading on Tuesday, reaching $106.58. The stock had a trading volume of 3,245,852 shares, compared to its average volume of 4,700,235. The firm has a market capitalization of $31.88 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 4.17 and a beta of -0.93. Zoom Video Communications, Inc. has a 1-year low of $94.51 and a 1-year high of $406.48. The stock has a 50 day moving average of $121.45 and a two-hundred day moving average of $183.63.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last released its earnings results on Monday, February 28th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Zoom Video Communications had a return on equity of 21.17% and a net margin of 33.54%. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities research analysts expect that Zoom Video Communications, Inc. will post 1.37 earnings per share for the current fiscal year.

ZM has been the topic of a number of analyst reports. Citigroup dropped their target price on Zoom Video Communications from $250.00 to $147.00 and set a “neutral” rating on the stock in a research report on Thursday, February 24th. Royal Bank of Canada lowered their price objective on Zoom Video Communications from $300.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, March 1st. Evercore ISI lowered their price objective on Zoom Video Communications from $235.00 to $145.00 and set an “inline” rating for the company in a report on Tuesday, March 1st. Piper Sandler lowered their price objective on Zoom Video Communications from $299.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, March 1st. Finally, Stifel Nicolaus lowered their price objective on Zoom Video Communications from $275.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday, March 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $191.58.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC bought a new position in shares of Zoom Video Communications in the fourth quarter valued at $418,128,000. Nikko Asset Management Americas Inc. increased its holdings in shares of Zoom Video Communications by 55.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,668,279 shares of the company’s stock valued at $675,037,000 after buying an additional 1,312,035 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Zoom Video Communications by 43.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,268,516 shares of the company’s stock valued at $785,023,000 after buying an additional 1,283,356 shares in the last quarter. Viking Global Investors LP bought a new position in shares of Zoom Video Communications in the third quarter valued at $308,306,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Zoom Video Communications by 24.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,005,012 shares of the company’s stock valued at $736,562,000 after buying an additional 789,132 shares in the last quarter. Hedge funds and other institutional investors own 51.52% of the company’s stock.

About Zoom Video Communications (Get Rating)

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.

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