Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg Sells 5,007 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $61.42, for a total value of $307,529.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, April 17th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $59.36, for a total transaction of $297,215.52.
• On Wednesday, April 3rd, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $63.39, for a total transaction of $317,393.73.
• On Wednesday, March 20th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $66.46, for a total transaction of $332,765.22.
• On Wednesday, March 6th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $67.08, for a total value of $335,869.56.

Zoom Video Communications Stock Down 1.6 %

Shares of Zoom Video Communications stock opened at $61.82 on Friday. The firm has a market cap of $19.01 billion, a PE ratio of 30.30 and a beta of -0.05. The company’s fifty day simple moving average is $64.58 and its two-hundred day simple moving average is $65.71. 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 announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.

Institutional Trading of Zoom Video Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pearl River Capital LLC lifted its position in shares of Zoom Video Communications by 31.6% in the 3rd quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock worth $2,601,000 after purchasing an additional 8,928 shares during the period. California Public Employees Retirement System boosted its position in Zoom Video Communications by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock valued at $32,231,000 after acquiring an additional 14,945 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Zoom Video Communications by 15.9% during the 3rd quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,826 shares during the period. Vanguard Group Inc. raised its position in shares of Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after acquiring an additional 1,000,005 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC lifted its stake in shares of Zoom Video Communications by 25.4% in the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after purchasing an additional 66,433 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZM. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Mizuho cut their price target 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. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.