Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Sells $238,719.27 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 3,791 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total value of $238,719.27. Following the completion of the transaction, the insider now directly owns 91,721 shares of the company’s stock, valued at $5,775,671.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 12th, Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock. The stock was sold at an average price of $70.00, for a total value of $108,710.00.
• On Wednesday, January 10th, Velchamy Sankarlingam sold 15,611 shares of Zoom Video Communications stock. The stock was sold at an average price of $67.98, for a total value of $1,061,235.78.

Zoom Video Communications Stock Up 0.5 %

Shares of NASDAQ:ZM opened at $62.52 on Friday. The business has a fifty day moving average of $65.33 and a two-hundred day moving average of $66.32. The stock has a market cap of $19.23 billion, a P/E ratio of 30.65 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.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations 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 anticipate that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted 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 in the last quarter. Norges Bank acquired a new position in Zoom Video Communications during the 4th quarter worth about $164,224,000. Acadian Asset Management LLC lifted its stake in Zoom Video Communications by 639.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock worth $113,916,000 after acquiring an additional 1,408,908 shares in the last quarter. Vanguard Group Inc. lifted its stake in Zoom Video Communications by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after acquiring an additional 1,000,005 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after acquiring an additional 781,663 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZM. BNP Paribas downgraded Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a research note on Thursday, January 18th. JPMorgan Chase & Co. dropped their price target on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Piper Sandler boosted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Mizuho dropped their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, Wells Fargo & Company cut Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price target for the company. in a research report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.56.

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.