Jonathan Chadwick Sells 12,500 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at $113,610.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Jonathan Chadwick also recently made the following trade(s):

• On Monday, October 14th, Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock. The stock was sold at an average price of $68.36, for a total transaction of $854,500.00.

Zoom Video Communications Stock Up 1.2 %

Shares of NASDAQ:ZM opened at $75.60 on Friday. The firm has a fifty day simple moving average of $69.63 and a two-hundred day simple moving average of $63.39. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $76.03. The stock has a market capitalization of $23.27 billion, a P/E ratio of 27.10, a PEG ratio of 6.44 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, 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 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in shares of Zoom Video Communications during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications during the second quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zoom Video Communications during the second quarter valued at approximately $41,000. Allworth Financial LP raised its holdings in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Zoom Video Communications by 1,257.7% during the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after acquiring an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Piper Sandler decreased their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Robert W. Baird dropped their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $75.32.

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.