Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Sells $208,274.70 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 2,595 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $80.26, for a total transaction of $208,274.70. Following the completion of the transaction, the insider now directly owns 126,393 shares of the company’s stock, valued at approximately $10,144,302.18. This represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, April 15th, Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $76.63 on Friday. The firm’s 50-day moving average price is $77.64 and its 200-day moving average price is $79.47. The company has a market capitalization of $23.18 billion, a PE ratio of 25.54, a P/E/G ratio of 5.48 and a beta of 0.71. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 EPS. Equities analysts anticipate that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.

Institutional Trading of Zoom Video Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Zoom Video Communications by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the last quarter. FMR LLC grew its position in Zoom Video Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after purchasing an additional 282,645 shares during the last quarter. Norges Bank purchased a new stake in Zoom Video Communications during the 4th quarter valued at about $751,908,000. AQR Capital Management LLC grew its position in Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after purchasing an additional 373,509 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in Zoom Video Communications by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company’s stock valued at $473,732,000 after purchasing an additional 36,210 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ZM shares. Morgan Stanley raised their price target on Zoom Video Communications from $79.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Zoom Video Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 7th. Piper Sandler increased their target price on shares of Zoom Video Communications from $77.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Wells Fargo & Company boosted their price target on Zoom Video Communications from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC upgraded Zoom Video Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 price target on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $87.00.

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.