Eric S. Yuan Sells 37,810 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 37,810 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $57.14, for a total value of $2,160,463.40. Following the transaction, the chief executive officer now owns 113,684 shares of the company’s stock, valued at approximately $6,495,903.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Zoom Video Communications Trading Up 1.1 %

ZM stock opened at $56.60 on Friday. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 8.81 and a beta of -0.05. The business’s 50-day moving average is $60.51 and its 200 day moving average is $63.96. Zoom Video Communications, Inc. has a 12-month low of $55.63 and a 12-month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.23. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. As a group, equities analysts forecast that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZM. Norges Bank acquired a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $164,224,000. Acadian Asset Management LLC lifted its holdings in Zoom Video Communications by 54.8% in the first quarter. Acadian Asset Management LLC now owns 3,046,718 shares of the company’s stock valued at $199,146,000 after acquiring an additional 1,078,937 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after acquiring an additional 1,000,005 shares during the last quarter. ARK Investment Management LLC lifted its holdings in Zoom Video Communications by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after acquiring an additional 781,663 shares during the last quarter. Finally, Retirement Systems of Alabama acquired a new position in Zoom Video Communications in the first quarter valued at approximately $42,289,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on ZM shares. Sanford C. Bernstein reduced their price objective on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a research note on Tuesday, May 21st. Robert W. Baird cut their price target on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Jefferies Financial Group initiated coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Morgan Stanley cut their price target on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Finally, Rosenblatt Securities lifted their price target on Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.22.

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.