Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells $761,829.60 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 10,960 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $69.51, for a total value of $761,829.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, August 29th, Kelly Steckelberg sold 10,960 shares of Zoom Video Communications stock. The stock was sold at an average price of $68.37, for a total transaction of $749,335.20.
• On Wednesday, August 23rd, Kelly Steckelberg sold 10,960 shares of Zoom Video Communications stock. The shares were sold at an average price of $68.29, for a total transaction of $748,458.40.
• On Friday, July 28th, Kelly Steckelberg sold 10,960 shares of Zoom Video Communications stock. The shares were sold at an average price of $73.61, for a total transaction of $806,765.60.
• On Thursday, July 13th, Kelly Steckelberg sold 10,960 shares of Zoom Video Communications stock. The stock was sold at an average price of $70.88, for a total value of $776,844.80.
• On Wednesday, June 28th, Kelly Steckelberg sold 10,960 shares of Zoom Video Communications stock. The shares were sold at an average price of $68.40, for a total value of $749,664.00.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $71.11 on Monday. The firm has a fifty day moving average of $69.80 and a two-hundred day moving average of $68.41. The stock has a market capitalization of $21.40 billion, a price-to-earnings ratio of 161.62, a PEG ratio of 1.20 and a beta of -0.20. Zoom Video Communications, Inc. has a 52 week low of $60.45 and a 52 week high of $89.67.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, August 21st. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.28. Zoom Video Communications had a return on equity of 3.51% and a net margin of 3.17%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ZM. US Bancorp DE lifted its holdings in Zoom Video Communications by 94.3% during the first quarter. US Bancorp DE now owns 5,654 shares of the company’s stock worth $417,000 after acquiring an additional 2,744 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Zoom Video Communications by 120.4% in the 1st quarter. State of Michigan Retirement System now owns 366,066 shares of the company’s stock valued at $27,030,000 after purchasing an additional 200,000 shares during the period. Bank of New York Mellon Corp increased its stake in Zoom Video Communications by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,347,864 shares of the company’s stock worth $99,526,000 after purchasing an additional 9,413 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Zoom Video Communications during the 4th quarter worth approximately $760,000. Finally, Martingale Asset Management L P lifted its stake in Zoom Video Communications by 6.1% in the first quarter. Martingale Asset Management L P now owns 9,992 shares of the company’s stock valued at $738,000 after buying an additional 578 shares in the last quarter. Institutional investors own 54.85% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of a number of research analyst reports. Moffett Nathanson raised shares of Zoom Video Communications from an “underperform” rating to a “market perform” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 23rd. Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a report on Wednesday, August 23rd. Wells Fargo & Company dropped their target price on Zoom Video Communications from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, August 22nd. Piper Sandler lowered their price target on Zoom Video Communications from $78.00 to $76.00 in a research report on Tuesday, May 23rd. Finally, Mizuho restated a “buy” rating and issued a $100.00 price target on shares of Zoom Video Communications in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $82.09.

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.