Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells $310,659.03 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Janet Napolitano sold 4,477 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $69.39, for a total transaction of $310,659.03. Following the transaction, the director now owns 2,984 shares in the company, valued at $207,059.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zoom Video Communications Stock Performance

Shares of ZM traded down $0.17 during trading hours on Friday, hitting $70.68. The company had a trading volume of 2,966,738 shares, compared to its average volume of 3,297,382. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77. The firm has a fifty day moving average price of $65.37 and a 200-day moving average price of $62.48. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 6.03 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts anticipate that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after acquiring an additional 2,579,720 shares during the period. AQR Capital Management LLC raised its holdings in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Acadian Asset Management LLC lifted its position in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after purchasing an additional 1,855,679 shares during the period. Vanguard Group Inc. boosted its holdings in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after purchasing an additional 721,923 shares during the last quarter. Finally, Retirement Systems of Alabama purchased a new stake in Zoom Video Communications in the first quarter worth approximately $42,289,000. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Robert W. Baird reduced their price objective on 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. 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. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday. Finally, Bank of America dropped their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.05.

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.