Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Velchamy Sankarlingam Sells 10,338 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 10,338 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total value of $718,594.38. Following the completion of the transaction, the insider now directly owns 104,414 shares of the company’s stock, valued at $7,257,817.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 10th, Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.87, for a total value of $241,668.18.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $70.68 on Friday. The firm has a market cap of $21.75 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 6.11 and a beta of -0.04. The business has a 50-day simple moving average of $65.62 and a two-hundred day simple moving average of $62.51. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating 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 firm 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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Hedge Funds Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently modified their holdings of ZM. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 721,923 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 acquiring an additional 38,924 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Zoom Video Communications by 255.1% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,597 shares of the company’s stock worth $235,000 after acquiring an additional 2,584 shares during the last quarter. Andra AP fonden grew its position in shares of Zoom Video Communications by 78.0% during the 2nd quarter. Andra AP fonden now owns 238,700 shares of the company’s stock valued at $14,129,000 after acquiring an additional 104,600 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Zoom Video Communications in the 1st quarter worth $2,100,000. 66.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

ZM has been the subject of several recent research reports. Stifel Nicolaus raised their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday. Bank of America lowered their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird cut their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.