Eric S. Yuan Sells 27,963 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the transaction, the chief executive officer now directly owns 95,140 shares in the company, valued at $5,896,777.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $61.63 on Friday. The company’s fifty day moving average price is $65.28 and its two-hundred day moving average price is $66.26. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 30.21 and a beta of -0.07. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, analysts anticipate that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in Zoom Video Communications by 61.0% in the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after buying an additional 2,444,294 shares during the period. Norges Bank acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth about $164,224,000. Acadian Asset Management LLC increased its holdings in shares of Zoom Video Communications by 639.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock worth $113,916,000 after acquiring an additional 1,408,908 shares during the period. Vanguard Group Inc. lifted its position in Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares during the last quarter. Finally, ARK Investment Management LLC boosted 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 purchasing an additional 781,663 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZM. Wells Fargo & Company lowered Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price target for the company. in a research note on Wednesday, December 20th. Mizuho decreased their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Zoom Video Communications in a report on Tuesday, March 26th. JPMorgan Chase & Co. lowered their price target on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Finally, Jefferies Financial Group started coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $77.56.

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.