Eric S. Yuan Sells 2,420 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total value of $165,479.60. Following the completion of the sale, the chief executive officer now directly owns 85,514 shares in the company, valued at approximately $5,847,447.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $67.18 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.82. The company has a market capitalization of $20.68 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 5.98 and a beta of -0.05. The company has a 50-day simple moving average of $60.85 and a 200 day simple moving average of $62.25.

Zoom Video Communications (NASDAQ:ZM) last released 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. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.69 EPS for the current year.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in Zoom Video Communications during the 2nd quarter worth $763,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Zoom Video Communications in the second quarter worth $207,000. Dana Investment Advisors Inc. raised its stake in Zoom Video Communications by 62.6% in the second quarter. Dana Investment Advisors Inc. now owns 91,226 shares of the company’s stock valued at $5,400,000 after purchasing an additional 35,105 shares in the last quarter. Truist Financial Corp bought a new stake in Zoom Video Communications during the second quarter worth about $296,000. Finally, Quarry LP grew its stake in Zoom Video Communications by 72.9% during the second quarter. Quarry LP now owns 1,798 shares of the company’s stock worth $106,000 after buying an additional 758 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein dropped their target price on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 21st. Benchmark reissued a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research report on Monday, August 5th. Evercore ISI decreased their target price on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, May 21st. Citigroup boosted their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Finally, UBS Group upgraded Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.10.

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.