Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells $283,596.48 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $56.64, for a total value of $283,596.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, July 24th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $58.64, for a total value of $293,610.48.
• On Tuesday, July 9th, Kelly Steckelberg sold 14,397 shares of Zoom Video Communications stock. The shares were sold at an average price of $57.15, for a total value of $822,788.55.
• On Wednesday, June 26th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $57.59, for a total transaction of $288,353.13.
• 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 transaction of $307,580.01.
• On Wednesday, May 29th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were 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 shares were sold at an average price of $63.36, for a total transaction of $317,243.52.

Zoom Video Communications Stock Performance

Shares of ZM stock traded up $0.17 during mid-day trading on Friday, reaching $56.38. 1,742,058 shares of the company were exchanged, compared to its average volume of 3,216,503. The business’s 50 day simple moving average is $58.85 and its 200 day simple moving average is $62.40. The company has a market capitalization of $17.44 billion, a P/E ratio of 20.97, a P/E/G ratio of 8.57 and a beta of -0.05. Zoom Video Communications, Inc. has a fifty-two week low of $55.55 and a fifty-two week high of $75.90.

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

Analyst Ratings Changes

Several research firms have recently commented on ZM. Citigroup raised their price target on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note 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 for the company in a research note on Tuesday, May 21st. Robert W. Baird decreased 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $83.00 target price on shares of Zoom Video Communications in a report on Monday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average target price of $75.22.

Institutional Trading of Zoom Video Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. acquired a new position in Zoom Video Communications during the 4th quarter worth $25,000. Quadrant Capital Group LLC raised its position in shares of Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after buying an additional 267 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Zoom Video Communications in the fourth quarter valued at approximately $32,000. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications during the second quarter valued at approximately $33,000. Finally, Rakuten Securities Inc. bought a new stake in Zoom Video Communications during the fourth quarter worth approximately $43,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.