Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan Sells 37,206 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 37,206 shares of the 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 completion of the sale, the chief executive officer now owns 114,341 shares of the company’s stock, valued at approximately $7,798,056.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $70.85 on Friday. The firm has a fifty day moving average price of $65.14 and a two-hundred day moving average price of $62.42. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.77. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 6.03 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ZM. Stifel Nicolaus increased their price objective on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, October 4th. Morgan Stanley reduced their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Finally, Benchmark increased their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.05.

Institutional Trading of Zoom Video Communications

Several institutional investors and hedge funds have recently made changes to their positions in ZM. Innealta Capital LLC purchased a new stake in shares of Zoom Video Communications during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Zoom Video Communications in the 2nd quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Zoom Video Communications in the 2nd quarter worth $41,000. Versant Capital Management Inc raised its position in Zoom Video Communications by 1,257.7% in the 2nd 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 period. Finally, EverSource Wealth Advisors LLC raised its position in Zoom Video Communications by 69.7% in the 2nd 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 period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.