Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells $963,966.12 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 14,151 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $68.12, for a total transaction of $963,966.12. Following the completion of the transaction, the chief financial officer now owns 140,427 shares of the company’s stock, valued at approximately $9,565,887.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, October 2nd, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $67.79, for a total transaction of $603,398.79.
• On Wednesday, September 18th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.47, for a total transaction of $591,649.47.
• On Wednesday, September 4th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $68.44, for a total value 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 value 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 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.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $70.68 on Friday. The stock’s 50-day moving average is $65.62 and its 200-day moving average is $62.48. The company has a market cap of $21.75 billion, a P/E ratio of 25.33, a P/E/G ratio of 6.11 and a beta of -0.04. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Hedge Funds Weigh In On Zoom Video Communications

Several large investors have recently bought and sold shares of the stock. Axiom Advisory LLC lifted its position in shares of Zoom Video Communications by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after acquiring an additional 183 shares during the period. Baader Bank Aktiengesellschaft lifted its position in Zoom Video Communications by 0.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after purchasing an additional 189 shares during the period. Cantor Fitzgerald L. P. boosted its stake in Zoom Video Communications by 2.7% during the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after buying an additional 197 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Zoom Video Communications by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after buying an additional 223 shares during the period. Finally, Excalibur Management Corp increased its holdings in Zoom Video Communications by 5.6% in the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock valued at $257,000 after buying an additional 232 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Piper Sandler lowered their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday. Benchmark boosted their target price on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus increased their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.05.

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.