Kelly Steckelberg Sells 14,151 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 14,151 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $68.12, for a total transaction of $963,966.12. Following the transaction, the chief financial officer now directly owns 140,427 shares in the company, valued at approximately $9,565,887.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, October 2nd, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79.
• On Wednesday, September 18th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47.
• On Wednesday, September 4th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44.
• On Wednesday, August 21st, Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock. The stock was sold at an average price of $59.70, for a total value of $299,276.10.
• 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 value of $293,610.48.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $70.68 on Friday. The company has a 50-day moving average of $65.37 and a 200-day moving average of $62.48. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.77. The company has a market capitalization of $21.75 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 6.03 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 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of recent analyst reports. Morgan Stanley dropped 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 research report on Friday, June 14th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday. Finally, Piper Sandler decreased their target price on 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 investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $75.05.

Institutional Trading of Zoom Video Communications

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after buying an additional 721,923 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Zoom Video Communications by 9.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after acquiring an additional 38,924 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in Zoom Video Communications by 255.1% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,597 shares of the company’s stock valued at $235,000 after purchasing an additional 2,584 shares in the last quarter. Andra AP fonden increased its holdings in Zoom Video Communications by 78.0% during the 2nd quarter. Andra AP fonden now owns 238,700 shares of the company’s stock valued at $14,129,000 after purchasing an additional 104,600 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in Zoom Video Communications by 4,370.9% in the 4th quarter. Bridgewater Associates LP now owns 192,205 shares of the company’s stock valued at $13,821,000 after purchasing an additional 187,906 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.