Kelly Steckelberg Sells 5,013 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total value of $299,276.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 value of $283,596.48.
• On Wednesday, July 24th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was 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.
• On Wednesday, June 12th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was 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 value of $308,331.06.

Zoom Video Communications Stock Up 3.1 %

Shares of ZM stock opened at $70.14 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $75.90. The firm’s 50 day moving average price is $58.53 and its two-hundred day moving average price is $61.85. The stock has a market cap of $21.69 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 10.44 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results 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 10.97%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently modified their holdings of ZM. Truist Financial Corp acquired a new position in shares of Zoom Video Communications during the second quarter worth $296,000. Quarry LP increased its stake in Zoom Video Communications by 72.9% during the 2nd quarter. Quarry LP now owns 1,798 shares of the company’s stock worth $106,000 after buying an additional 758 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Zoom Video Communications by 6.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 20,037 shares of the company’s stock worth $1,186,000 after buying an additional 1,145 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Zoom Video Communications during the second quarter valued at about $526,000. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Zoom Video Communications during the second quarter worth about $754,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

ZM has been the subject of a number of analyst reports. Bank of America cut their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Thursday. Morgan Stanley reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Finally, Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.10.

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.