Velchamy Sankarlingam Sells 10,338 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 10,338 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $69.51, for a total transaction of $718,594.38. Following the completion of the transaction, the insider now owns 104,414 shares in the company, valued at approximately $7,257,817.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, September 10th, Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18.

Zoom Video Communications Trading Down 0.2 %

NASDAQ ZM opened at $70.68 on Friday. The firm has a market capitalization of $21.75 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 6.11 and a beta of -0.04. The firm’s 50 day simple moving average is $65.62 and its 200 day simple moving average is $62.48. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share 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 for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZM. Benchmark upped their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, October 4th. Stifel Nicolaus upped their price target on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Finally, Bank of America decreased their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $75.05.

Institutional Trading of Zoom Video Communications

A number of hedge funds have recently added to or reduced their stakes in the stock. Axiom Advisory LLC boosted its position in Zoom Video Communications by 1.6% in the third quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock valued at $817,000 after buying an additional 183 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in shares of Zoom Video Communications by 0.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after purchasing an additional 189 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Zoom Video Communications by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after purchasing an additional 223 shares during the period. Excalibur Management Corp lifted its holdings in shares of Zoom Video Communications by 5.6% during the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after purchasing an additional 232 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Zoom Video Communications by 2.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock worth $669,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.