Eric S. Yuan Sells 37,206 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 37,206 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the transaction, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at $7,798,056.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Zoom Video Communications Stock Performance

ZM stock opened at $70.68 on Friday. The stock has a market capitalization of $21.75 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 6.03 and a beta of -0.04. The company has a fifty day moving average of $65.37 and a 200-day moving average of $62.48. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating 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 the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ZM shares. Robert W. Baird lowered their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Stifel Nicolaus raised their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday. 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 report on Wednesday, July 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $75.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Creative Planning increased its holdings in Zoom Video Communications by 18.5% in the third quarter. Creative Planning now owns 34,522 shares of the company’s stock valued at $2,408,000 after buying an additional 5,396 shares in the last quarter. Harrington Investments INC grew its holdings in shares of Zoom Video Communications by 12.4% in the 3rd quarter. Harrington Investments INC now owns 18,645 shares of the company’s stock worth $1,300,000 after acquiring an additional 2,055 shares during the period. Burns Matteson Capital Management LLC purchased a new position in Zoom Video Communications in the 3rd quarter valued at approximately $397,000. Wynn Capital LLC raised its holdings in Zoom Video Communications by 5.8% during the third quarter. Wynn Capital LLC now owns 9,834 shares of the company’s stock worth $686,000 after purchasing an additional 540 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Zoom Video Communications by 340.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,104 shares of the company’s stock worth $216,000 after purchasing an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors 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.