Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells $591,649.47 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total transaction of $591,649.47. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, September 4th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44.
• 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 transaction of $299,276.10.
• On Wednesday, August 7th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $56.64, for a total transaction 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 shares were sold at an average price of $57.59, for a total value of $288,353.13.

Zoom Video Communications Price Performance

ZM stock opened at $67.53 on Monday. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 5.83 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 firm has a fifty day moving average price of $62.72 and a two-hundred day moving average price of $62.26.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Institutional Trading of Zoom Video Communications

Several hedge funds have recently made changes to their positions in ZM. Vanguard Group Inc. boosted its stake in Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after purchasing an additional 721,923 shares during the period. AQR Capital Management LLC boosted its position in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares during the period. Pacer Advisors Inc. grew its holdings in Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after buying an additional 2,579,720 shares in the last quarter. Acadian Asset Management LLC increased its position 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 acquiring an additional 1,855,679 shares during the period. Finally, FIL Ltd raised its stake in Zoom Video Communications by 1.3% during the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after acquiring an additional 40,456 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Bank of America dropped their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Robert W. Baird decreased their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Benchmark reaffirmed a “buy” rating and set a $83.00 target price on shares of Zoom Video Communications in a research report on Monday, August 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $74.68.

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.