Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Sells $145,242.18 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Shane Crehan sold 2,493 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $58.26, for a total value of $145,242.18. Following the sale, the chief accounting officer now owns 2,367 shares of the company’s stock, valued at $137,901.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shane Crehan also recently made the following trade(s):

• On Thursday, June 13th, Shane Crehan sold 363 shares of Zoom Video Communications stock. The shares were sold at an average price of $60.25, for a total value of $21,870.75.
• On Tuesday, June 11th, Shane Crehan sold 1,475 shares of Zoom Video Communications stock. The shares were sold at an average price of $62.99, for a total value of $92,910.25.
• On Sunday, June 9th, Shane Crehan sold 1,538 shares of Zoom Video Communications stock. The shares were sold at an average price of $62.42, for a total value of $96,001.96.

Zoom Video Communications Trading Up 1.1 %

ZM opened at $56.60 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.63 and a 12-month high of $75.90. The business’s fifty day simple moving average is $60.51 and its 200-day simple moving average is $63.96. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 8.59 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, equities research analysts predict that Zoom Video Communications, Inc. will post 2.43 EPS for the current year.

Institutional Investors Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Evoke Wealth LLC raised its stake in Zoom Video Communications by 3.5% in the fourth quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock valued at $364,000 after buying an additional 172 shares during the last quarter. Xponance Inc. raised its stake in Zoom Video Communications by 2.0% in the fourth quarter. Xponance Inc. now owns 9,279 shares of the company’s stock valued at $667,000 after buying an additional 179 shares during the last quarter. Cantor Fitzgerald L. P. raised its stake in Zoom Video Communications by 2.7% in the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock valued at $544,000 after buying an additional 197 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after buying an additional 267 shares during the last quarter. Finally, Wynn Capital LLC raised its stake in Zoom Video Communications by 3.3% in the first quarter. Wynn Capital LLC now owns 8,881 shares of the company’s stock valued at $581,000 after buying an additional 284 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZM. Piper Sandler cut their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday. Citigroup boosted their price objective on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Evercore ISI cut their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, May 21st. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Finally, Wells Fargo & Company cut their price objective on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.22.

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.