Eric S. Yuan Sells 35,722 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 35,722 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the transaction, the chief executive officer now directly owns 57,371 shares of the company’s stock, valued at $4,099,157.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $72.66 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $74.77. The business has a fifty day moving average of $67.90 and a two-hundred day moving average of $62.81. The stock has a market cap of $22.36 billion, a PE ratio of 26.04, a PEG ratio of 6.22 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. Analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, October 4th. Stifel Nicolaus increased their price target on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler reduced their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus price target of $75.32.

Institutional Investors Weigh In On Zoom Video Communications

A number of large investors have recently bought and sold shares of ZM. Innealta Capital LLC bought a new position in Zoom Video Communications in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications in the second quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zoom Video Communications in the second quarter valued at about $41,000. Allworth Financial LP lifted its position in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after buying an additional 893 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

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.