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 the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total value of $288,353.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, June 12th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $61.43, for a total value of $307,580.01.
• On Wednesday, May 29th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $61.58, for a total value of $308,331.06.
• On Wednesday, May 15th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $63.36, for a total value of $317,243.52.
• On Wednesday, May 1st, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $61.42, for a total value of $307,529.94.
• On Wednesday, April 17th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $59.36, for a total value 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 value of $317,393.73.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded up $0.72 on Friday, reaching $59.19. 3,748,100 shares of the company were exchanged, compared to its average volume of 3,367,268. Zoom Video Communications, Inc. has a 1-year low of $55.63 and a 1-year high of $75.90. The company has a market cap of $18.31 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 8.83 and a beta of -0.01. The stock’s 50 day moving average price is $61.24 and its 200-day moving average price is $64.96.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. On average, research analysts predict that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in Zoom Video Communications in the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC raised its stake in shares of Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth approximately $32,000. Rakuten Securities Inc. purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth approximately $43,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ZM shares. Robert W. Baird reduced their price objective on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Morgan Stanley reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, May 21st. Evercore ISI reduced their price objective on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, May 21st. Finally, Citigroup boosted their price objective on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $75.44.

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.