Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan Sells 27,963 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 27,963 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $61.63 on Friday. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 30.21 and a beta of -0.07. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The stock’s fifty day moving average price is $65.28 and its two-hundred day moving average price is $66.26.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. On average, equities analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZM has been the topic of several research reports. Piper Sandler boosted their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 27th. BNP Paribas downgraded Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research report on Thursday, January 18th. Wells Fargo & Company cut Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price objective on the stock. in a research report on Wednesday, December 20th. Finally, Jefferies Financial Group assumed coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.56.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 purchasing an additional 721,923 shares during the last quarter. BlackRock Inc. increased its stake in shares of Zoom Video Communications by 0.8% in the 1st quarter. BlackRock Inc. now owns 12,837,056 shares of the company’s stock valued at $947,888,000 after acquiring an additional 104,955 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Zoom Video Communications by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after acquiring an additional 781,663 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Zoom Video Communications by 3.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after acquiring an additional 216,768 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Zoom Video Communications by 61.0% during the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after acquiring an additional 2,444,294 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

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.