Velchamy Sankarlingam Sells 3,614 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now owns 94,000 shares of the company’s stock, valued at $6,285,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, July 9th, Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock. The stock was sold at an average price of $57.15, for a total value of $186,994.80.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $66.55 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77. The firm has a market capitalization of $20.48 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 5.91 and a beta of -0.05. The company’s fifty day moving average price is $61.50 and its two-hundred day moving average price is $62.38.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Analysts predict that Zoom Video Communications, Inc. will post 2.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZM. Evercore ISI cut their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, May 21st. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Thursday, August 22nd. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. 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. Finally, Piper Sandler decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. 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. According to data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $75.10.

Hedge Funds Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently modified their holdings of ZM. Principal Securities Inc. acquired a new position in Zoom Video Communications during the fourth quarter worth $25,000. Quadrant Capital Group LLC grew its holdings in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth about $32,000. Innealta Capital LLC acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Zoom Video Communications during the 2nd quarter valued at about $36,000. 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.