Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells 5,007 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total transaction of $288,353.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, June 12th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $61.43, for a total transaction of $307,580.01.
• On Wednesday, May 29th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $61.58, for a total transaction of $308,331.06.
• On Wednesday, May 15th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $63.36, for a total transaction of $317,243.52.
• On Wednesday, May 1st, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $61.42, for a total transaction of $307,529.94.
• On Wednesday, April 17th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $59.36, for a total transaction of $297,215.52.
• On Wednesday, April 3rd, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $63.39, for a total transaction of $317,393.73.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $59.19 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.63 and a 1 year high of $75.90. The firm has a market capitalization of $18.31 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 8.97 and a beta of -0.01. The business’s 50 day moving average price is $61.20 and its 200-day moving average price is $64.78.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. On average, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZM. Kestra Advisory Services LLC lifted its holdings in Zoom Video Communications by 88.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,899 shares of the company’s stock valued at $552,000 after purchasing an additional 3,710 shares in the last quarter. Mariner LLC raised its holdings in shares of Zoom Video Communications by 90.3% during the 3rd quarter. Mariner LLC now owns 18,134 shares of the company’s stock worth $1,268,000 after acquiring an additional 8,603 shares during the period. Stifel Financial Corp raised its holdings in shares of Zoom Video Communications by 5.4% during the 3rd quarter. Stifel Financial Corp now owns 26,080 shares of the company’s stock worth $1,824,000 after acquiring an additional 1,340 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in shares of Zoom Video Communications during the 3rd quarter worth $294,000. Finally, California State Teachers Retirement System raised its holdings in shares of Zoom Video Communications by 7.9% during the 3rd quarter. California State Teachers Retirement System now owns 414,833 shares of the company’s stock worth $29,013,000 after acquiring an additional 30,294 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ZM shares. Citigroup increased their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Stifel Nicolaus cut their price target on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Rosenblatt Securities increased their price target on shares of Zoom Video Communications from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Morgan Stanley cut their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.44.

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.