Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick Sells 12,500 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 12,500 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. This trade represents 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 available through this link.

Jonathan Chadwick also recently made the following trade(s):

• On Monday, October 14th, Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock. The shares were sold at an average price of $68.36, for a total transaction of $854,500.00.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $74.74 on Friday. The company has a market cap of $23.00 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 6.44 and a beta of -0.04. The stock’s fifty day moving average price is $69.52 and its two-hundred day moving average price is $63.29. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $75.96.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion for 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 firm’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 posted $0.55 earnings per share. On average, equities analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ZM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Piper Sandler dropped their target price on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Stifel Nicolaus boosted their price target on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Benchmark increased their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Robert W. Baird reduced their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $75.32.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ZM. Summit Global Investments lifted its holdings in Zoom Video Communications by 4.7% in the third quarter. Summit Global Investments now owns 55,068 shares of the company’s stock valued at $3,840,000 after buying an additional 2,484 shares during the period. Hara Capital LLC acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at $480,000. Donald L. Hagan LLC acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at $672,000. Amalgamated Bank boosted its position in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Amalgamated Bank now owns 13,912 shares of the company’s stock worth $970,000 after purchasing an additional 257 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Zoom Video Communications by 128.6% during the third quarter. QRG Capital Management Inc. now owns 15,914 shares of the company’s stock worth $1,110,000 after purchasing an additional 8,952 shares during the period. Institutional investors 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.