Kelly Steckelberg Sells 8,901 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total value of $603,398.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, September 18th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $66.47, for a total value 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 shares were 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 stock was 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 shares were sold at an average price of $57.15, for a total value of $822,788.55.

Zoom Video Communications Stock Performance

ZM stock opened at $68.66 on Friday. The firm has a fifty day moving average price of $64.64 and a 200 day moving average price of $62.37. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77. The firm has a market cap of $21.23 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 5.83 and a beta of -0.04.

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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. Zoom Video Communications’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last 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 year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Zoom Video Communications during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications during the second quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications during the second quarter worth $41,000. Versant Capital Management Inc lifted its position in shares of Zoom Video Communications by 1,257.7% during the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after purchasing an additional 893 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Zoom Video Communications by 69.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock worth $102,000 after purchasing an additional 692 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZM has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Robert W. Baird reduced their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Wells Fargo & Company upped their target price on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Bank of America cut their price target on 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. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.