Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Sells $103,648.50 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Shane Crehan sold 1,550 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shane Crehan also recently made the following trade(s):

• On Monday, July 8th, Shane Crehan sold 2,493 shares of Zoom Video Communications stock. The stock was sold at an average price of $58.26, for a total transaction of $145,242.18.
• On Thursday, June 13th, Shane Crehan sold 363 shares of Zoom Video Communications stock. The shares were sold at an average price of $60.25, for a total transaction of $21,870.75.

Zoom Video Communications Trading Up 1.6 %

Shares of ZM stock opened at $67.59 on Friday. The company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 5.84 and a beta of -0.05. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77. The stock’s fifty day simple moving average is $61.69 and its 200-day simple moving average is $62.41.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZM. Benchmark reaffirmed a “buy” rating and set a $83.00 price target on shares of Zoom Video Communications in a research note on Monday, August 5th. Citigroup raised their target price on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, Bank of America dropped their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $75.10.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in Zoom Video Communications in the second quarter valued at about $763,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $207,000. Dana Investment Advisors Inc. grew its stake in shares of Zoom Video Communications by 62.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 91,226 shares of the company’s stock valued at $5,400,000 after buying an additional 35,105 shares in the last quarter. Truist Financial Corp acquired a new position in Zoom Video Communications in the second quarter worth approximately $296,000. Finally, Quarry LP raised its position in Zoom Video Communications by 72.9% during the second quarter. Quarry LP now owns 1,798 shares of the company’s stock valued at $106,000 after acquiring an additional 758 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.