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

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were 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 directly owns 94,000 shares of the company’s stock, valued at $6,285,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 shares were sold at an average price of $57.15, for a total transaction of $186,994.80.

Zoom Video Communications Stock Performance

NASDAQ ZM traded up $0.60 during mid-day trading on Wednesday, reaching $67.30. 3,516,386 shares of the stock were exchanged, compared to its average volume of 3,390,293. The stock has a market capitalization of $20.71 billion, a PE ratio of 25.11, a PEG ratio of 5.90 and a beta of -0.05. The business’s fifty day simple moving average is $61.34 and its 200 day simple moving average is $62.35. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly 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 company had revenue of $1.16 billion for 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% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS. On average, analysts anticipate that Zoom Video Communications, Inc. will post 2.69 EPS for the current year.

Hedge Funds Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently made changes to their positions in ZM. KBC Group NV increased its stake in Zoom Video Communications by 134.3% during the 4th quarter. KBC Group NV now owns 561,558 shares of the company’s stock worth $40,382,000 after buying an additional 321,921 shares during the period. Vanguard Group Inc. increased its stake in Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after buying an additional 721,923 shares during the period. Ossiam increased its stake in Zoom Video Communications by 1,917.4% during the 4th quarter. Ossiam now owns 231,474 shares of the company’s stock worth $16,645,000 after buying an additional 220,000 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Zoom Video Communications by 9.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after buying an additional 38,924 shares during the period. Finally, Contrarius Investment Management Ltd increased its stake in Zoom Video Communications by 31.2% during the 4th quarter. Contrarius Investment Management Ltd now owns 1,164,674 shares of the company’s stock worth $83,752,000 after buying an additional 277,257 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Thursday, August 22nd. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Piper Sandler reduced their target price 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. Citigroup boosted their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.10.

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.