Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells 37,206 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the sale, the chief executive officer now directly owns 114,341 shares in the company, valued at $7,798,056.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Zoom Video Communications Trading Up 1.3 %

Shares of ZM stock opened at $70.85 on Friday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $74.77. The stock has a market cap of $21.81 billion, a P/E ratio of 25.39, a P/E/G ratio of 6.03 and a beta of -0.04. The company has a 50 day simple moving average of $65.14 and a two-hundred day simple moving average of $62.42.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ZM shares. Morgan Stanley cut their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Stifel Nicolaus boosted their price objective on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $75.05.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently modified their holdings of the company. Axiom Advisory LLC boosted its position in shares of Zoom Video Communications by 1.6% in the third quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after purchasing an additional 183 shares during the period. Baader Bank Aktiengesellschaft boosted its position in shares of 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 position in shares of Zoom Video Communications by 2.7% in the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after purchasing an additional 197 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after purchasing an additional 223 shares during the period. Finally, Excalibur Management Corp boosted its position in shares of Zoom Video Communications by 5.6% in the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after purchasing an additional 232 shares during the period. 66.54% of the stock is currently owned by institutional investors.

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.