Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Velchamy Sankarlingam Sells 3,272 Shares

Zoom Video Communications, Inc. (NASDAQ:ZMGet Free Report) insider Velchamy Sankarlingam sold 3,272 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total transaction of $186,994.80. Following the completion of the sale, the insider now directly owns 82,792 shares of the company’s stock, valued at $4,731,562.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Velchamy Sankarlingam also recently made the following trade(s):

  • On Tuesday, June 11th, Velchamy Sankarlingam sold 1,551 shares of Zoom Video Communications stock. The stock was sold at an average price of $62.99, for a total value of $97,697.49.
  • On Sunday, June 9th, Velchamy Sankarlingam sold 3,589 shares of Zoom Video Communications stock. The stock was sold at an average price of $62.42, for a total value of $224,025.38.

Zoom Video Communications Stock Down 1.5 %

NASDAQ ZM opened at $56.00 on Thursday. Zoom Video Communications, Inc. has a 12-month low of $55.63 and a 12-month high of $75.90. The company has a market capitalization of $17.32 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 8.81 and a beta of -0.05. The firm’s 50 day moving average is $60.63 and its 200-day moving average is $64.01.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last released its earnings results on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Zoom Video Communications by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after purchasing an additional 721,923 shares during the period. ARK Investment Management LLC lifted its holdings in shares of Zoom Video Communications by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after buying an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Zoom Video Communications by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock worth $475,469,000 after buying an additional 216,768 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Zoom Video Communications by 4.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock worth $434,785,000 after buying an additional 233,321 shares in the last quarter. Finally, FIL Ltd lifted its holdings in shares of Zoom Video Communications by 1.3% during the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after buying an additional 40,456 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZM. Sanford C. Bernstein lowered their price target on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a report on Tuesday, May 21st. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Rosenblatt Securities increased their price objective on shares of Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Citigroup increased their price objective on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Finally, Wells Fargo & Company lowered their target price on shares of Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.22.

Read Our Latest Research Report on ZM

Zoom Video Communications Company Profile

(Get Free Report)

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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