Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells 8,901 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kelly Steckelberg also recently made the following trade(s):

• On Wednesday, September 4th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44.
• On Wednesday, August 21st, Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock. The shares were sold at an average price of $59.70, for a total transaction of $299,276.10.
• On Wednesday, August 7th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $56.64, for a total transaction of $283,596.48.
• On Wednesday, July 24th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $58.64, for a total transaction of $293,610.48.
• On Tuesday, July 9th, Kelly Steckelberg sold 14,397 shares of Zoom Video Communications stock. The shares were sold at an average price of $57.15, for a total transaction of $822,788.55.
• On Wednesday, June 26th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $57.59, for a total transaction of $288,353.13.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $67.53 on Friday. The firm has a market cap of $20.89 billion, a P/E ratio of 25.20, a P/E/G ratio of 5.83 and a beta of -0.05. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77. The firm has a 50-day simple moving average of $62.72 and a two-hundred day simple moving average of $62.29.

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 analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during 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 was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. On average, equities research analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Morgan Stanley decreased their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Finally, Bank of America decreased their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.68.

Institutional Trading of Zoom Video Communications

Institutional investors have recently made changes to their positions in the stock. KBC Group NV boosted its holdings in shares of Zoom Video Communications by 134.3% during the 4th quarter. KBC Group NV now owns 561,558 shares of the company’s stock valued at $40,382,000 after acquiring an additional 321,921 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares during the last quarter. Ossiam boosted its holdings in shares of Zoom Video Communications by 1,917.4% during the 4th quarter. Ossiam now owns 231,474 shares of the company’s stock valued at $16,645,000 after acquiring an additional 220,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Zoom Video Communications by 9.7% in the first 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 last quarter. Finally, Contrarius Investment Management Ltd boosted its holdings in shares of Zoom Video Communications by 31.2% in the fourth 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 last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.