Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells 178,571 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $81.46 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $81.57. The company has a market cap of $25.07 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 6.87 and a beta of -0.05. The firm’s 50 day simple moving average is $70.46 and its 200-day simple moving average is $64.07.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business posted $0.55 earnings per share. Zoom Video Communications’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 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, October 4th. Robert W. Baird decreased their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Bank of America reduced their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Finally, Wedbush initiated coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.32.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in Zoom Video Communications during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zoom Video Communications during the second quarter worth approximately $41,000. Allworth Financial LP lifted its position in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

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.