Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg Sells 8,901 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total value of $609,184.44. 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, August 21st, Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock. The shares were sold at an average price of $59.70, for a total value of $299,276.10.
• On Wednesday, August 7th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $56.64, for a total value of $283,596.48.
• 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 stock was 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 stock was sold at an average price of $57.59, for a total value of $288,353.13.
• On Wednesday, June 12th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $61.43, for a total value of $307,580.01.

Zoom Video Communications Stock Down 0.1 %

ZM traded down $0.05 during trading on Friday, hitting $67.18. The company had a trading volume of 2,708,258 shares, compared to its average volume of 3,392,190. The company has a market capitalization of $20.68 billion, a PE ratio of 25.07, a PEG ratio of 5.98 and a beta of -0.05. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.82. The firm’s 50-day moving average price is $60.70 and its 200 day moving average price is $62.21.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.55 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.69 earnings per share for the current year.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZM. Pacer Advisors Inc. raised its holdings in shares of Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC grew its stake in Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares during the last quarter. Norges Bank acquired a new position in Zoom Video Communications in the 4th quarter valued at about $164,224,000. Acadian Asset Management LLC grew its stake in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Zoom Video Communications by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after buying an additional 721,923 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZM shares. Wells Fargo & Company lifted their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Evercore ISI lowered their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, May 21st. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Finally, UBS Group upgraded Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.10.

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.